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Revenue surges 135% at VR firm used by The 02, Blackpool Tower and Alton Towers owner

The company added that trading in its core location-based entertainment division in the second half was 'very encouraging'

Immotion Group is headquartered in Greater Manchester(Image: Pexels.com)

Revenue at a virtual reality entertainment group, which has deals with the likes of The 02, Blackpool Tower and the owner of Alton Towers, surged by 135% during the first second of its financial year.

Greater Manchester-headquartered Immotion Group has said its revenue for the six months was c.£6.6m, up from the £2.8m it reporting during the first half.

During the same period in the group's previous financial year, its revenue totalled £2m.

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In a statement issued to the London Stock Exchange, the company added that trading in its core location-based entertainment division in the second half was "very encouraging".

It added that its revenue for the division totalled £4m, a 74% increase compared to the £2.3m from the first half, and a 207% rise from the £1.3m during the same period in the prior year.

Chief executive Martin Higginson said: "To see our core LBE business bounce back so quickly clearly demonstrates its robustness and growth potential.

"We are absolutely delighted to be expanding capacity at a number of key sites, especially our largest installation at Shark Reef Aquarium, Mandalay Bay Resort & Casino which will now run through to at least January 2024.