Turnover has surged and pre-tax losses slashed at a Larger Manchester-based digital actuality (VR) group which works with the likes of The 02, the proprietor of Alton Towers and The Blackpool Tower throughout the first half of its monetary yr.
Immersive leisure agency Immotion has reported a income of £2.7m for the six months to the tip of June 2021, up from the £818,000 it posted for a similar interval in 2020.
The AIM-listed firm has additionally confirmed its pre-tax losses had been minimize from £2.5m to £1.4m.
In an announcement, the enterprise added it has seen an “excellent efficiency” throughout its third quarter, with income at about £3m and a breakeven adjusted pre-tax revenue.
It additionally stated it achieved document group outcomes for June, July and August.
Chairman Robin Miller stated: “Our H1 outcome could be very encouraging, significantly as circumstances within the early a part of the interval remained difficult to say the least.
“April noticed us attain underlying EBITDA revenue for the primary time, and now we have maintained this efficiency each month since.
“Our core Location Primarily based Leisure (“LBE”) enterprise has recovered strongly and loved a buoyant summer season interval.
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“Following this, now we have seen a really robust begin to H2 and, accordingly, we anticipate Q3 to ship general group income of circa £3m and EBITDA of £0.6m. Momentum is rising in our HBE and Uvisan companies and this augurs nicely for This autumn after we imagine, based mostly on present efficiency, they may in combination ship important income, margin and web money influx.
“Our LBE enterprise will proceed to deal with bigger installations whereas creating new content material to launch into the worldwide zoo market – which we imagine to be significantly bigger than the aquarium market – within the early a part of subsequent yr.
“HBE, whereas persevering with to construct momentum with the ‘Let’s Discover Oceans’ vary of content material, will even be launching an thrilling new product, ‘Vodiac’, providing a wider and deeper selection of channels.
“Securing our first important order for the NHS was a serious milestone for Uvisan, our UV-C disinfection enterprise.
“This, plus the continued pandemic and resultant heightened profile of office security and hygiene, offers us confidence that demand for these merchandise goes to be with us for the foreseeable future and supplies a constructive backdrop for development.
“The creation of the HBE and Uvisan divisions has supplied us with two additional important development alternatives and the early indicators are very promising.
“It is a actual testomony to the crew, its entrepreneurial spirit and willpower not simply to outlive however to prosper.
“In conclusion, now we have confidence that there are plentiful development alternatives forward.”