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Theme Parks: Lo-Q plc – AGM Statement

News

Lo-Q plc, the AIM listed provider of virtual queuing systems for theme parks and major attractions, will hold its Annual General Meeting at The Smith Centre, The Fairmile, Henley-on-Thames, Oxfordshire, RG9 6AB, today at 2.00pm. At the AGM Jeff McManus, Chairman, will give the following update on trading:

“Trading in the Company’s existing parks to date has been variable with some days of higher total value than last year, whilst other days have been substantially below, partly due to most of the existing parks experiencing poorer weather conditions when compared to the previous year.

“One positive trend worth noting is that on days when visitor numbers have been high, sales of Lo-Q devices have been higher as a percentage of total visitors than usually expected.

“The Company is also pleased to note that the levels of trading in its 4 new parks using the Company’s VQ2020 system have been encouraging. This system is a virtual queuing system using hand-held units called Q-bots and has been well received both by the park operators and guests alike.

“Whilst the main selling season has only just started, the Company expects its final revenues and profitability
for the current financial year to be in line with market expectations.”

Contacts:
Lo-Q plc Jeff McManus, Chairman Tel: 01491 577 210
Arbuthnot Securities Limited John Prior/Ed Burbidge Tel: 020 7012 2000
Walbrook PR Ltd Tel: 020 7933 8780 Mob: 07980 541 893
Paul McManus paul.mcmanus@walbrookpr.com
Ben Knowles ben.knowles@walbrookpr.com

About Lo-Q plc

Lo-Q plc listed on AIM in April 2002 and has active subsidiary companies in the USA and Canada.

Lo-Q designs, installs and operates systems which allow members of the public to make ride and show reservations when they visit a theme park or other attraction. Lo-Q’s flagship product, VQ2020, is a true virtual queuing system for theme parks. Lo-Q’s proprietary hand-held units, called Q-bots, are used in major theme parks around the world. In August 2008 Lo-Q passed its 3 millionth user of the Lo-Q system.

The dynamic virtual queuing concept arose because of a wait in a line by Leonard Sim, the company founder and inventor of the Lo-Q System, and his family in a Florida theme park in the 90’s. The ride had mechanical problems, which meant that the almost two hour wait was a waste of time.

Lo-Q’s headquarters and development labs are in the Smith Centre high technology campus near Henley-on-Thames, UK, where a team of highly skilled engineers carry out hardware, software and systems design. The USA headquarters is in Lithia Springs, Georgia, near Atlanta where support, financial and installation staff are based.

The first installation went live in March 2001 and with Mirabilandia being installed on the 9th of April 2009, there will be a total of 14 sites across the world, namely:
Six Flags Over Georgia, USA
Six Flags New England, USA
Six Flags Great Adventure, USA
Six Flags Over Texas, USA
Six Flags Fiesta Texas, USA
Six Flags St Louis, USA
Six Flags Great America, USA
Six Flags Magic Mountain, USA
Six Flags Discovery Kingdom, USA
Six Flags La Ronde, Canada
Dollywood, USA
Dreamworld, Australia
Legoland Windsor, UK
Mirabilandia, Italy

In 2007 Lo-Q acquired the Text-Q product which allows mobile phone users to reserve their place in line. Users pay a fee and using the premium rate SMS services, avoid standing in a queue. The attraction generates additional revenue. Text-Q is available at the London Dungeon and Madame Tussauds in London as well as Flamingo Land.

See also:
Amusement Parks: Statement from Lo-Q plc.
Amusement Parks: Lo-Q Wins new contract with Parque Isla Mágica, Seville 
Amusement Parks: Flamingo Land Resort eases the queuing pain for visitors with Text-Q ride reservation system from Lo-Q
Italian Theme Park, Mirabilandia brings 21st century queuing to guests by introducing the virtual queuing system from Lo-Q

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