viewLive Company Group PLC

Live Company rises as it remains confident of exceeding events target for 2019

The media group's executive chairman, David Ciclitira, said the firm had confirmed 52 events for 2019 from its target of 60 with “several more in the pipeline”

Pile of lego bricks
Live Company has already secured 67% of its revenues for 2019

Live Company Group PLC’s (LON:LVCG) shares jumped on Friday after its executive chairman, David Ciclitira, said he believed the company would exceed its events target for 2019.

In a trading update for the six months ending 30 June, the chairman said the media group had secured 67% of its revenues for 2019 so far, while it had also confirmed 52 events for the year from its target of 60 and had “several more in the pipeline”.

READ: Live Company set to achieve profitability in current year, says Shard Capital

Over the six months, the company said trading had been in line with market expectations and that it had secured multi-year contracts with a value of £4.4mln for 2019 and £1.3mln for 2020.

The group also said it had seen “considerable growth” in its BRICKLIVE touring business, while the number of brick models used in its shows had risen to 690 compared to 650 at the end of March.

The number of themed touring assets, which numbered 12 as of 13 June, was expected to grow to 15 by the end of the year.

Ciclitira said the priority for the rest of 2019 was the expansion of the BRICKLIVE brand across both Europe and America as well as expanding the group’s merchandise ranges and touring business.

“Looking ahead, we remain focused on delivering our ambitious strategic goals and hope to exceed market expectations, creating long term value for our shareholders", he added.

In early trading the shares were 5% higher at 50.9p.

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Quick facts: Live Company Group PLC

Price: 21.5 GBX

Market: AIM
Market Cap: £17.09 m

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