Live Company trading 'severely impacted' by Covid-19 restrictions

Events and entertainment group Live Company warned on Friday that it had continued to be "severely impacted" by ongoing Covid-19 restrictions.

Revenue for the six months ended 30 June was £622,000, down 36% on the equivalent period in 2020, which included two full months of pre-Covid trading, and 30% down on the six months ended 31 December, reflecting increased uncertainty as coronavirus restrictions were re-imposed across the UK, EU and other markets in which it operates.

Underlying losses widened from £969,000 to £1.34m, while the group's loss after tax was cut from £5.37m to £2.1m as a result of a significant reduction in exceptional items from £3.98m to £172,000.

Chairman David Ciclitira said: "I am delighted that the green shoots of recovery are starting to come through, with 28 BRICKLIVE events confirmed for 2021, a year when we and our clients were unable to operate for the first six months; and with the confirmation of the Formula E Cape Town race by the FIA and Formula E for February 2022, we are well placed to benefit from that recovery."

As of 1155 BST, Live Company shares were untraded at 4.65p.