StockMarketWire.com - Virtual reality services provider Immotion said it expected to report significantly narrower losses in August following 'encouraging' performance and the reopening of some of its virtual reality attraction at partner sites.

While much uncertainty and disruption remained and numerous sites remain closed, the company said it was encouraged by revenues for August from both its operational partner estate and ImmotionVR sites.

'The re-opening of these sites, along with the opening of Mandalay Bay, should result in a significantly reduced loss in August and is a major step forward in achieving the short term objectives of monthly EBITDA breakeven and operating cashflow neutrality,' the company said.

While visitor numbers were generally down in partner sites, due, owing to COVID-19 related restrictions on attendance levels, average revenue per headset had been 'encouraging' despite the reduced visitor numbers, it added.






At 8:42am: [LON:IMMO] Immotion Group Plc share price was -0.05p at 4.65p



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