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Immersive entertainment company Immotion said it expects to nearly achieve a core-earnings breakeven outcome for the first half of the year following a strong performance in its location-based entertainment business.
The company said it expects 'H1 results to show a near EBITDA [earnings before interest taxes, depreciation, and amortization] breakeven outcome on revenue of circa £2.7 million.'
Following a strong June, the second half of 2021 had 'started very strongly with July being yet another record month.'
Revenue was £1 million, with unaudited EBITDA at circa £200,000 a 'considerable' increase versus June's £126,000, taking the company into overall EBITDA profitability for the year to date.
'The growth in revenue in July (versus June) has been driven by improved trading in our LBE division, which benefitted from school holidays in both the USA and UK, driving LBE [location-based entertainment business] revenue to £922,000 (vs £732,000 in June),' it added.
Enquiries for Uvisan disinfection cabinets continued to grow, with the company expecting to see a 'significant' increase in its revenue in the coming months.