Demand rises for Lo-Q premium products

Theme park queuing specialist Lo-Q reported improved revenue for the six month period ended 30 April 2012 after an increase in the number of guests using its premium products.

Revenue at the group rose to £3.7m from £3.3m before while pre-tax loss widened to £1.1m from £0.94m after increased spending on new contracts, research and development.

The aim listed provider of virtual queuing systems for theme and water parks said average revenue per guest increased by 14% as customers used more premium products at the theme parks.

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This helped to offset a 1 per cent fall in the total number of people using the company's products as unseasonably poor weather weighed on European park attendance.

Lo-Q said this year's second half will be even more important due to new customers and upgraded of existing installations.

Chief executive Tom Burnet said overall trading was going well and he remains confident that the momentum will carry on into the second half.

"Although we are only at the beginning of the key summer trading period of the majority of our existing parks, we are ready to take full advantage of our increased operational footprint and look forward to a full year financial performance in line with our expectations."

CJ