19/07/2006
Electronic queuing specialist Lo-Q is to install a pilot system at Dollywood Theme Park, Tennessee, with 2.25 million annual visitors.
Reading-based Lo-Q, has reached agreement with Dollywood, a partnership between singer Dolly Parton and Herschend Family Entertainment Corporation, to install a pilot 'Guest Services System' into Dollywood. The system will operate between mid-September and 31 December and, if it proves its 'suitability' by then, Dollywood will give Lo-Q a three-year contract starting with the 2007 holiday season.
Lo-Q, which cut its losses last year from £348,400 to £60,200 on doubled revenues of £1.6 million, is tight-lipped about the potential profits implications of the Dollywood deal on a company whose 'virtual queuing' system has found its biggest application in theme parks and other leisure venues. Managing director Leonard Sim does say it is 'an encouraging piece of further evidence of more confidence' in an industry he says has taken a long time recovering from the 9/11 disaster,
Floated four years ago at £1, Lo-Q shares have had a torrid history, bottoming at a barely visible 3p last year. They are now 14.75p, up 2.75p today, which must gratify director Stephen Drake, who was granted 35,000 ten-year options at 9.25p in May, to add to his existing 196,000 options.
They could repay a strong-nerved recovery punt.
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