Live Company withdraws guidance as it looks towards zoo reopenings
Independent LEGO-focussed events firm Live Company Group updated the market on Tuesday, noting that countries including Germany, the Czech Republic and Austria had now opened some zoos.
Additionally, it said some states in the US were planning to open zoos from the end of May, adding that it was already working with Michigan Zoo to install its ‘Animal Paradise’ tour, ahead of the zoo's planned reopening at the end of May.
As the AIM-traded company had said on 15 April, currently around a third of its events planned for 2020 had been postponed to either the second half of 2020 or the first half of 2021, though no events had been cancelled at this time.
Live Company also said that it was in the process of further developing its consumer sets business, as well as other products for home use, which had seen “significant” demand.
The board said that, given the current period of “unprecedented uncertainty”, it was withdrawing its previous financial and operational guidance for both 2020 and 2021.
Additionally, further to its announcements on 15 and 30 April and 5 May around its cost saving initiatives as a result of the Covid-19 pandemic, it said its non-executive directors had now chosen to forego their fees for the second and third quarters of the 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 chairman David Ciclitira.
“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.”
At 1446 BST, shares in Live Company Group were up 3.48% at 11.9p.