Live Company Group (AIM:LVCG ) said it is starting to see “some green shoots” of progress as several countries have begun to ease their coronavirus pandemic lockdown restrictions.
The media group told investors that the first zoos were beginning to open in Germany, providing it with an opportunity, alongside its German partner, to expand sales in the country.
The company also said it was already working with the JB Zoo in Michigan in the US to install its Animal Paradise tour ahead of a planned reopening at the end of May.
Despite around a third of its events planned for 2020 being postponed to the second half of 2020 or the first half of 2021, no events have been cancelled at this time, the group stated.
The company also announced that it is in the process of further developing its consumer sets business, as well as other products for home use, which has seen ‘significant demand.’
Shares in Live Company Group were trading flat at 11.5p on Tuesday morning.
However, due ‘unprecedented uncertainty’, the group said it is withdrawing its previous financial and operational guidance for both 2020 and 2021.
In addition, the group’s non-executive directors have now elected to forego their fees for the second and third quarters of the current financial year.
“Despite the current difficult trading and market conditions as a result of COVID-19, we are starting to see some green shoots with regards to the opening of certain countries post lockdown,” said David Ciclitira, Chairman of Live Company Group.
He added, “It is still early days and we continue to monitor the situation closely, ensuring we comply with all local guidelines in the countries we operate.”
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