Lo-Q on target for year despite weather

Lo-Q, a virtual queuing systems provider for theme parks, water parks and major attractions, said pre-tax profit is expected to be in line with market expectations while its net cash position will be slightly ahead of forecasts.

The AIM-listed firm enjoyed a strong performance despite challenging weather conditions in key markets including the hottest July on record in North America; the wettest summer since national records began in the UK and much of Europe; and the recent arrival of Hurricane Sandy, currently impacting America's east coast.

Strong sales momentum has continued, particularly in new product areas and with new customers. It has also made progress in securing the partnerships and trials that will support its future expansion in to new markets and verticals, it said.

Chief Executive Officer Tom Burnet commented: "We have driven sales across our entire product suite and signed agreements that add new, global operators to our client base. We have laid the groundwork for future expansion in to Asia, which has the potential to be a hugely exciting market for us over the long-term. And, we have also pushed ahead with some our newest innovations, signing up our first customer for Q-smart."

"As the theme park operating season comes to a close, operators are once again turning their attentions to the infrastructure investments that will sustain and improve their park visitor experience next year."

CJ