The children’s entertainment group said it has already secured sales of live shows including 63 BRICKLIVE events totalling £4.8mln for the full year, and that there are still £0.4mln of contracts lined up to be signed “in the near-term”.
Costs of integrating Bright Bricks meant the the AIM-listed media company said the loss in the first six months was “in line with expectations”, as profit dropped from £116,000 in the same period last year.
Live Company said absorbing Bright Bricks had a “significant impact on overheads”, which increased by £500,000 to £1.9mln and helped push the group into an interim loss of £1.1mln (£503,000 profit).
Bright Bricks was acquired last October last year for £8.5mln and has secured the entertainment group’s brick supply and increased its competitive advantage, meanwhile raising barriers to entry for other firms in brick-based entertainment.
Sales dipped below £2mln from £2.8mln in the first six months of 2018, which Live Company said was because of an “unusually high” sale last year of Animal Paradise in China, which totalled US$0.8m.
Ciclitira said that 2019 has been “a year of significant investment”, and he remained confident about the rest of the year with a “strong” pipeline going into 2020.
Over the past month Live Company has announced high-profile partnerships with Imagine Exhibitions to expand its BRICKLIVE tours in North America and Snowman Enterprises to produce a tour based around the animated movie The Snowman and The Snowdog.
Shares fell by 5% to 40.7p in afternoon trading.