Lo-Q Plc, the Twyford based supplier of queue management systems for the theme park industry, announced that its results for its financial year to October 31st 2010 are expected to be in line with management expectations. Lo-Q's broker, Arbuthnot Securities, estimates sales of £6 million and pre-tax profits of £2.4 million.
Lo-Q also announced that it is continuing the process of restructuring its board of directors after the departure of the former Executive Chairman Jeff McManus earlier in the year. The company announced that COO Steve Drake and Commercial Director Paul Cassar are leaving the board immediately, but will retain their operational responsibilities. In a further change, Lo-Q also announced that Sales Director Colin Robertson has resigned as both a director and employee (CEO Tom Burnet will assume his responsibilities until a replacement can be recruited).
David Gammon, founder of technology advisor and investor Rockspring, is joining the board as an NED.
Disclaimer:
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Lo-Q plc is engaged in the development and application of virtual queuing technologies. The Company develops virtual queuing technologies for a theme park or other attraction. The Company designs, installs and operates systems, which allow members of the public to make ride and show reservations when they visit a theme park or other attraction. Its flagship product, VQ is a virtual queuing system for theme parks. Its hand-held units, called Q-bots, are used in theme parks around the world. The Company has overseas operations in the United States, Canada, Italy, Germany, Spain and Australia. more »
