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Immotion losses deepen as it rolls out VR offering

By BFN News | 02:55 PM | Wednesday 26 September, 2018


Virtual reality company Immotion Group, which listed on AIM in July, posted a deeper first-half loss as expenses rose. Pre-tax losses for the six months through June totaled £1.5m, worsening from a loss of £175k on-year. Revenue in the period amounted to £1.1m. 'We have an ambition to become a leading global player in the Out of Home' VR experience market,' chairman Robin Miller said. 'By combining the creation of exciting content with high-quality motion platforms, Immotion Group delivers immersive, fun and educational VR experiences.' 'Our first ImmotionVR experience centres and concessions are trading well and we are very pleased by the positive response we have received from consumers.' 'This has given the executive team the confidence to pursue a rapid roll out in the second half of the year.' At 2:55pm: (LON:IMMO) Immotion Group Plc share price was -0.5p at 12.25p Story provided by StockMarketWire.com

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