IN BRIEF: Immotion narrows interim loss and expects strong second half

Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Narrows ...

Alliance News 28 September, 2021 | 11:40AM
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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Narrows pretax loss to GBP1.4 million in the six months ended June 30, from a GBP2.5 million loss in the same period in 2020 and 2019. Interim revenue jumps to GBP2.8 million from GBP818,000 a year prior and GBP1.3 million two years earlier. Receives first significant NHS order for 64 Uvisan disinfection cabinets. Expects the second half to be strongly cash generative. "Against this backdrop we currently feel very optimistic about our prospects for the remainder of 2021 and beyond," Immotion says.

In 2022, the company aims to grow its Location Based Entertainment business and expand in the aquarium and zoo sectors. Plans to launch its Home Based Entertainment in the fourth quarter of 2021 and its Location Based Entertainment zoo offering in spring 2022.

Current stock price: 6.49 pence, up 3.0% on Tuesday

Year-to-date change: up 56%

By Scarlett Butler; scarlettbutler@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Immotion Group PLC Ordinary Shares 6.50 GBX -0.76 -

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