2018 revenue in line with expectations
Strong order book and pipeline of opportunities in 2019
£2.2mln fundraise to support expansion of BRICKLIVE Zoo programme
What Live Company does:
These range from large BRICKLIVE events that attract hundreds, to smaller cafes that parents and children can enjoy while taking a break from shopping.
Since listing on AIM in December 2017, the company has been pursuing an aggressive strategy of expansion and brand building that has paid off for the share price.
What it owns:
Brick Live Group holds BRICKLIVE, an interactive event that allows people to learn, build and play with LEGO bricks.
Parallel Live is a joint venture with Three Six Zero to hold BRICKLIVE events in the US and Canada. The joint venture has agreed terms with Live Nation Entertainment to launch events this year. The first was held in Dallas in January.
Bright Bricks, acquired by Live Company last October, is a professional LEGO brick building firm. It makes custom LEGO brick and toy brick creations for clients across the globe including Rolls-Royce, Google, BT, Land Rover, Warner Brothers, LEGO, General Electric, The National Gallery, Maersk and Lufthansa.
- Live Company in February announced a deal with AWC AG, a leading German exhibition promoter, to provide three BRICKLIVE shows in the country. AWC will organise three BRICKLIVE shows, including two at Odysseum in Cologne and one at Explorado in Duisburg, to take place over the next 12 months.
- An equity fundraising with certain existing investors to raise around £2.2mln will support the expansion of the BRICKLIVE Zoo shows following significant interest in the programme.
- Revenues for 2018 were broadly in line with expectations with strong order book and pipeline of opportunities from the start of 2019.
- The first BRICKLIVE show in the US at the Ford Centre in Fisco Texas was well received by visitors. BRICKLIVE events will be held in about 60 locations across the world this year including in the UK, China, Singapore and Malaysia.
- Last November the group landed a US$1.3mln lease agreement with a South Korean firm for its Mythical Beasts touring assets that will run until December 2021. The deal involves the lease of 50 models created and built by Bright Bricks.
Live Company said there is a strong pipeline in place for future sales as it invests in content and producing five new BRICKLIVE Zoo touring assets over the next 14 months. The group expects the assets to generate £2mln in revenue and £1.6mln in gross profit in 2019.
The company is well-funded to support its planned expansion of BRICKLIVE Zoo following its £2.2mln share placing and subscription.
“With the success of our Zoo touring assets at Marwell Zoo and Twycross Zoo in the UK, we have seen significant levels of interest from other zoos across the UK, Europe and the United States,” said chairman David Ciclitira.
“This funding will therefore allow the group to take advantage of these exciting opportunities and I'm personally delighted to be investing in the company at this time."