Immotion says it has seen “very strong trading” over the last few months.
The Salford Quays immersive entertainment group said that unaudited revenue across its main Location based Entertainment (LBE) business for the first half of 2022 (£4.4m) was almost double that of H1 2021 (£2.3m).
It added that July was set to be the best month ever for its LBE division, with unaudited revenues of £1.3m.
This comes following a difficult year for the group, which was impacted heavily by global lockdowns during the Covid-19 pandemic and then social distancing restrictions, meaning its installations had to be closed, or run at limited capacity.
“The first six months of the year have shown solid year-on-year improvement and, with July exceeding all previous revenue numbers, the summer trading period is looking very encouraging,” said Martin Higginson, CEO of Immotion.
“Demand for the Group’s core LBE offering remains strong and, with solid operating cash flow generation from the key summer months, we are now well positioned for further installations and growth of the LBE estate.”
The company has recently completed 2 small scale installations at Chester Zoo and Legoland Discovery Center Philadelphia. That means it has a total of 488 seats across 54 locations, with plans to “comfortably pass” the 500 seat mark by the end of the year.
In April, Immotion announced plans to spin out its Home Based Entertainment (“HBE”) and Uvisan divisions of the Group. Today it stated that discussions on both businesses “are at an advanced stage.”
