Litebulb Group Limited Trading update (5235I)
09 Dicembre 2015 - 12:46PM
UK Regulatory
TIDMLBB
RNS Number : 5235I
Litebulb Group Limited
09 December 2015
LITEBULB GROUP LIMITED
("LiteBulb" or the "Company")
Trading Update
LiteBulb (AIM: LBB), the branded product developer, provides the
following update with respect to current trading.
Two divisions are experiencing a difficult fourth quarter, which
is expected to result in a shortfall in group revenues of
approximately GBP3.3m compared to the Board's expectations in
September. The rest of the Group's divisions are trading in line
with expectations, with Bluw, Meld, Concept and Powerstation
Studios all on course to deliver profitable results for the year.
The shortfall in revenues will result in a shortfall in EBITDA
against expectations although the Board still expects to report a
positive adjusted EBITDA figure for the year which represents an
improvement on the prior year.
The two divisions experiencing difficulty are Go Entertainment
and the US operation.
Go Entertainment is the Group's home entertainment division,
which is suffering a significant decline in its core markets, by as
much as 40% in certain DVD categories, leading to the shortfall on
its Q4 revenues.
As announced on 27 January 2015, the Group opened its first US
office at the beginning of the year in an effort to open up the
perceived growth potential of the US market. However this approach
has not delivered the anticipated results, leading to a material
shortfall on projected revenues. It has therefore been decided to
close this operation as the Group focuses on strengthening its
considerable ties with the major UK retailers.
Howard Partington, Interim Chief Executive of LiteBulb, said:
"Whilst it is disappointing that two divisions have not performed
as expected we are still expecting to report a positive adjusted
EBITDA figure for the year. I am of course pleased with the
performance to date of our other four businesses and look forward
to presenting the full year result in due course."
For further information, please contact:
LiteBulb Group Limited www.litebulbgroup.com
Howard Partington, Interim Chief Tel: 020 3384 7100
Executive
Guy Pettigrew, Group Finance Director
finnCap (NOMAD & Broker) Tel: 020 7220 0500
Stuart Andrews/Scott Mathieson
(Corporate Finance)
Joanna Scott (Corporate Broking)
Walbrook PR Limited Tel: 020 7933 8780 or litebulb@walbrookpr.com
Paul McManus Mob: 07980 541 893
About LiteBulb Group
LiteBulb Group designs, manufactures and distributes innovative
brands and products to the global retail market.
LiteBulb Products, our wide range of products are sold in over
30 countries through blue chip retailers including: Tesco, M&S,
John Lewis Partnership, Sainsbury's, Debenhams, Wilkinson's, Next,
Boots, WH Smiths, Amazon, Target and Costco.
LiteBulb Creative is a creative agency with global reach,
delivering compelling and agile brand extension programmes to the
entertainment industry. LiteBulb Creative has designed products and
campaigns for clients around the world, including Disney, Hasbro
and Miramax.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTPKCDQDBDDQBK
(END) Dow Jones Newswires
December 09, 2015 06:46 ET (11:46 GMT)
Grafico Azioni Litebulb Grp (LSE:LBB)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Litebulb Grp (LSE:LBB)
Storico
Da Giu 2023 a Giu 2024