Lo-Q, an AIM-listed technology solutions provider to the attractions and leisure industry, revealed double digit growth as demand for its systems at entertainment theme parks and water parks soars.

The group, which provides virtual queuing systems provider for theme parks, water parks and attractions, said pre-tax profit surged 16.7% to £3.2m for the period ended November 4th 2012 while revenue climbed 18.7% to £29.1m.

Lo-Q reported a 2.6% like for like, year on year increase in average customer spend on the group's products and a 9% rise in park customers using Lo-Q systems.

The group, which earlier this month secured a deal to install its virtual queuing system at Camelbeach Mountain Waterpark in Pennsylvania, said earnings per share increased 26.2% to 14.6p.

In January Lo-Q confirmed it has been awarded a new three-year contract for queuing systems at Dolly Parton's Splash Country water park, Dollywood.

Chief Executive Tom Burnet said: "The strength of our products and their clear end-market appeal has enabled us to continue to drive sales across all segments, securing not only landmark wins for our newest smartphone based system, but also retaining the trust and confidence of some of our longest-held customers.

"With the transformational acquisition of accesso complete and the technology, operations and sales synergies we expected, are already beginning to prove evident. I have great confidence in the abilities of our expanded team and in our prospects for the months ahead."

In a separate statement, Lo-Q said it has agreed a new banking facility with Lloyds Bank Commercial Bank. The £4.75m debt facility will refinance the £4.0m convertible loan note issued as part of the group's recent acquisition of accesso.



Shares in digital services provider Hibu soared above 36 per cent Tuesday after the group posted rise in profits during the last quarter.

Profits before tax increased by £2.0m to £19m for the last three months of 2012, driven by a 31% surge in digital services revenues to £345m.

The division contributed to 36% of total group revenues as the customer base grew by 10% to 391,100.

Chief Executive Officer Mike Pocock said the group continued to make significant progress with pilots underway for a range of new digital products and services.

"Our new strategic products are progressing well from development to market readiness," he said.

"Community magazines are being sold into more than 600 markets and generating orders of more than half a million pounds a week."

However, group revenues fell by 14% to £314m, pulled down by a 22% drop in print and other directory sales and a 7.0% decline in digital directories.

Yellow Pages advertisers reduced by 20% to 189,000 resulting in a 5.3% decrease in revenue per advertiser to £933.

Earnings before interest, taxes, depreciation, and amortisation were down £52m to £55m, while cash flow tumbled by £12m to £59m.

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