Immotion encouraged by summer trading performance

Immotion said its ImmotionVR sites all traded strongly, generating a profitable contribution after all local costs, but noted that visitor numbers were generally down at its partner sites - principally due to Covid-19 related restrictions on attendance levels.

However, the AIM-listed group highlighted that although a number of attractions in key Partner sites did remain closed as a result of restrictions, average revenue per headset had been "encouraging" despite the reduced visitor numbers.

Immotion said: "Whilst much uncertainty and disruption remains and numerous sites remain closed, we are encouraged by revenues for August from both our operational partner estate and ImmotionVR sites.

"The re-opening of these sites, along with the opening of Mandalay Bay, should result in a significantly reduced loss in August and is a major step forward in achieving the short term objectives of monthly EBITDA breakeven and operating cashflow neutrality."

As of 1145 BST, Immotion shares were down 1.27% at 4.64p.