Live Company Group PLC (AIM: LVCG) is pleased to announce its audited results for the year ended 31 December 2018, which was a transformational year for the Group.
Key 2018 Highlights included
- Significant expansion in the number of BRICKLIVE events and shows held during the year with 34 held globally in 2018 compared to 18 in 2017
- The launch of the BRICKLIVE Animal Paradise show in China. In September 2018 BRICKLIVE Animal Paradise was opened by H.S.H Prince Albert II of Monaco in the prestigious Birds Nest, Beijing
- The launch of the BRICKLIVE brand in America with the first BRICKLIVE event subsequently held post year end in January 2019 at The Star in Frisco (Dallas), promoted by Live Nation in partnership with the Dallas Cowboys
- The £8.5 million acquisition of Bright Bricks Holdings Limited (“Bright Bricks”) in October 2018, providing the Group with access to one of the world’s premier brick model building companies with Bright Bricks being the Group’s production hub, enabling the Group to accelerate growth plans
2018 Financial Highlights
The Group achieved significant growth in 2018:
- 178% increase in revenues from £1,928,000 in 2017 to £5,351,000 in 2018; and
- Net assets increasing from £2,844,000 in 2017 up to £10,627,000 in 2018 as a result of the acquisition.
2019 Highlights, year to date
- Strong pipeline, with 46 shows and events already secured and this is expected to increase to 60 events and shows for 2019
- As at 31 May 2019, had already secured multi-year contracts with a value of £4.0 million for 2019, £1.3 million for 2020 and £0.7 million for 2021, which together with our other revenue streams, demonstrates our ability to create significant shareholder value
- Raised £2.2 million (before expenses) in February 2019 to support our continued growth and investment in expanding our asset base, with 12 tours currently being exhibited across Europe and the US
- Focusing on five key areas in 2019
– Continued expansion of BRICKLIVE brand in Europe, having already secured multi-year partnerships with AWC in Germany, Pal Expo in Switzerland and Exhibition Hub in Belgium
– Continued expansion of the BRICKLIVE brand in America
– Fostering relationships with global IP partners across the world. Already agreed a multi-year contract with Nickelodeon UK, one of the world’s leading children’s entertainment brand
– Expansion and development of a new merchandise range, having appointed Licensing Management International Limited as the Group’s agent
- Continued expansion of the Group’s touring business, through the creation of new touring shows/assets
The Annual Report and Accounts will be available today on the Group’s website www.livecompanygroup.com.
The Company’s Annual General Meeting will be held on 19 July 2019, and the Notice of AGM will be issued to all shareholders along with the Annual Report, for those shareholders whom have elected to receive the Annual Report in physical copy, in due course.