Anthony O. Golianov
Immotion Group PLC said Thursday that revenues from its core location-based entertainment business will increase in the first half of 2022 and that discussions about a spin-off of the two divisions are in advanced stages.
The UK virtual reality company said LBE revenue was £4.4m ($5.3m) for the period, compared with £2.3m in the first half of 2021.
According to Immotion, the LBE business performed very well over the summer, with revenues of £1.3m in July, the best month ever for the sector. August also started very strongly.
The company said LBE revenue was £5.7m in the seven months to 31 July, up from £3.2m in the same period last year.
The company said in April that it intended to separate its home-based entertainment and Uvisan businesses for the short term, allowing it to focus entirely on LBE.
“The summer trading season looks very promising, with a solid year-on-year improvement in the first half of the year, and July outperforming all earnings to date,” said CEO Martin Higginson. Stated.
Please contact Anthony O. Goriainoff ([email protected]).