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Location Sciences offers services to government during coronavirus lock-down

The company has directly contacted the government to see whether its technology could be used to gather data for analysis used to inform decisions made to combat the spread of the virus

Location Sciences Group PLC -

Location Sciences Group PLC’s (LON:LSAI) has said its first-quarter performance was in line with expectations but added that the second quarter will see some impact from the coronavirus pandemic and it has offered its services to the government during the lock-down period.

The location data verification company noted that while half of its revenues are from fixed monthly fees, the other half are based on the volume of location advertising, which looks certain to decline during the lock-down.

"Location Sciences' existing customer base is largely within the QSR (quick-service restaurants), retail and leisure sectors, which have all been significantly impacted by the UK Government's restrictions,” Kelvin Harrison, the non-executive chairman of Location Sciences said in a statement issued ahead of the company’s annual general meeting on Thursday.

On the plus side, the company noted that it's annual revenues are typically heavily weighted towards the fourth quarter so there is the opportunity to recover some of the revenues lost in the second quarter.

The group said its directors are actively working with the company's partners, and have directly contacted the UK government, to see whether its technology could be used to gather data for analysis used to inform decisions made to combat the spread of the virus.

In common with most companies, Location Sciences has made some cost-cutting measures to conserve cash but assured shareholders that its engineering teams “have never been busier”, working on product development.

Quick facts: Location Sciences Group PLC

Price: 0.525 GBX

LSE:LSAI
Market: LSE
Market Cap: £2.8 m
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