Live Company Group (AIM:LVCG)  said 2019 has been “transformational” after the group lowered losses and expanded its global BRICKLIVE Zoo programme across the UK and US. 
 
In final results for the year ended 31 December 2019, the group reported a pre-tax loss of £1.8m down from £2.1m in 2018 while revenues increased from £5.4m from £4.9m in 2018. 
 
The group’s £2m raise in February 2019 facilitated the expansion of the BRICKLIVE Zoo programme, enabling new tours to be built and exhibited whilst providing working capital. 
 
The company secured 12 contracts with zoos across the UK, US and Canada by the end of the year and said it has made plans to expand further within this sector of the business. 
 
It said it expects the zoo programme to become ‘a key source of recurring revenue,’ providing long lead times and ensuring the company has a good financial visibility. 
 
The group also secured multi-year partnerships with four intellectual property (IP) partners and contracted 60 BRICKLIVE shows which increased to 71 shows by the end of the year. 
 
LVCG established its BRICKLIVE IP division in Q2 2019 which is, inter alia, now working with two of the largest entertainment brands in the world, Nickelodeon and Entertainment One. 
 
Shares in Live Company Group were trading 6.67% lower at 14p on Tuesday morning. 

Despite many of this year’s tours having been postponed as a result of the coronavirus pandemic, the group said it has seen ‘significant inbound enquiry’ from Business Improvement Districts (BIDs) for the second half of 2020. 
 
Looking ahead, LVCG said it now expects to receive additional enquiries ‘as BIDs look to increase football and support local business recovery.’ 
 
“We continue with our build programme and are seeking to further develop our consumer sets business, as well as other products for home use, which has seen significant demand during recent times,” said Chairman, David Ciclitira.  
 
However, due to a period of ‘unprecedented uncertainty’ he added that the group has withdrawn its guidance for 2020 and 2021 and said that market conditions which have increased the risk of a delay to its strategy could impact the company’s liquidity. 
 
“I very much believe that our team is up for the challenge as we remain committed to delivering shareholder value,” he said, adding that the group continues to explore ways to mitigate the impact. 
 
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