GCILive Company Group reveal solid half-year results and expanding asset base in 2019
The company reported revenue and trading in line with expectations, with revenue at £2.0m for the first six months -- £4.8m having already been secured from shows and builds, and a further £0.4m of fixed fee contracts for 2019 currently out for near term signature.
Going forward, the group explained how “good visibility and a strong pipeline of events” have amounted to a total of 63 events secured for this year, with more to be expected, as well as additional contracted sales of £2.3m for 2020 and £0.75m for 2021 already in place.
Chairman, Mr Ciclitira, highlighted the company’s expanding asset base as a focal point of 2019 -- attributing the ability to host multiple shows and events across numerous locations at any one time as the main component for bolstering business growth.
“This has enabled us to have already exceeded our target of 60 events for 2019, having already hosted BRICKLIVE events in China, Japan, South Korea, America, Germany and the UK, with a very busy end to the year ahead,” Mr Ciclitira revealed.
Additionally, Mr Ciclitira acknowledged the group’s further success in securing multi-year contracts, stating:
“We have also secured international IP partners such as Nickelodeon UK and Ireland and Snowman Enterprises and established new partners in Europe, and America and I'm delighted with the progress that has been made in the year to date.”
On top of a solid report, Live Company also announced the appointment of Mark Freebairn as an Independent Non-executive Director with effect from 1 October -- Mr Ciclitira added that Mr Freebairn would bring “invaluable London city experience” to the Board.
“I'm very excited about the opportunities that the remainder of 2019 and 2020 will bring and, with the Group trading in line with expectations, I'm confident for the overall outcome for 2019,” Mr Ciclitira reflected on the report.
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