Live Company Group PLC (AIM:LVCG) said its Formula E event, which took place in Cape Town, was a “race filled with plenty of unexpected results" as Porsche took first place.
The London-listed firm said it generated £200,000 in revenue as there was no title sponsor at the event, but hopes this year’s “success” will help it attain a title sponsor for next year, with talks already underway, according to a statement.
“I feel immensely proud of what the team in South Africa achieved in such a short space of time. The FIA said it was one of the best races in Formula E ever and I can't wait to see what we can do to add to this race in 2024,” said chairman David Ciclitira.
StART, the group’s art division, also continued its collaboration with Formula E as several South African artists were present trackside.
This, Live Company said, “reinforces StART and Formula E’s commitment to support emerging artists and their local community and showcase local art in front of the local city population”.
Live Company said it is seeking ways to extend the Cape Town stopover of the Ocean Race to add additional revenue streams as the organiser, with this year’s event getting off to a “wild start”.
The Ocean Race is often described as the longest and toughest professional sporting event in the world, with teams racing in yachts across the globe.
The company also announced that Mark Sloper, a British artist, has opened a solo exhibition at StART Art Korea’s Sungdong-gu gallery space, running from 23 February to 12 March.
Accompanying original and limited-edition artworks is also a range of complementary merchandise, Live Company said.