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Live Company revenues surge over 150% in 2018

For the calendar year, the firm reported revenues up 178%, while overall losses more than halved to £2.61mln
Lego bricks pile
Live Company said it had currently secured contracts worth £4mln for 2019, £1.3mln for 2020 and £700,000 for 2021

Live Company Group Plc (LON:LVCG) saw revenues surge in 2018 as the media group targeted continued expansion of its BRICKLIVE brand in the current year.

For the year ended 31 December 2018, the AIM-listed firm reported revenues of £5.35mln, 178% higher than the prior year, while overall losses narrowed to £2.61mln from £5.44mln previously.

The Company also said that it had made “a very good start” to 2019 with a strong pipeline of 46 shows and events secured for the year and an expectation that it would hold around 60 shows before 2020.

As a result of the events pipeline, Live Company said it had secured contracts worth around £4mln for 2019, £1.3mln for 2020 and £700,000 for 2021.

However, the group said it would not “stand still” over the year and was focusing on a number of key growth areas including the expansion of its BRICKLIVE brand in Europe and America as well as the development of new merchandising ranges.

The company added that its £8.5mln acquisition of LEGO statue maker Bright Bricks in October 2018 would allow it to accelerate growth plans.

In early trading on Friday, Live Company shares were down 6.7% at 63p.

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