Location Sciences Group PLC Trading Update (5931O)
31 January 2019 - 6:00PM
UK Regulatory
TIDMLSAI
RNS Number : 5931O
Location Sciences Group PLC
31 January 2019
31 January 2019
Location Sciences Group PLC
("Location Sciences" or the "Company")
Trading Update
Location Sciences (AIM: LSAI), the leading mobile location data
and intelligence expert, is pleased to announce that, since
completion of its fundraising on 29 November 2018, trading remained
strong in the remainder of 2018. Consequently, trading for the year
ended 31 December 2018 was in line with market expectations.
2019 has started well with Location Sciences utilising some of
the funds raised in November 2018 by expanding its leadership and
sales team in North America. Earlier this month, Warren Zenna,
President of US Sales, led Location Sciences' activities at CES, a
major event that draws thousands of Location Sciences' target
customers. The event provided an opportunity to soft launch
Location Sciences' Verify solution - a platform which detects
location ad-fraud. This issue is causing growing concern across a
plethora of brands and agencies which count on the fact that the
premium location data they buy to drive their media decisions is
valid.
The soft launch resulted in platform guidance and commercial
test requests from certain top US brands, agencies and location
intelligence data providers. These paid-for trials are currently
being scheduled and are expected to provide participating parties
with significant benefits and competitive advantage. Paid trials
across the US are expected to lead to "always-on" contracts with
trial participants. Similar to Location Sciences' UK experience,
the Directors expect trial participants to convert into "always-on"
agency and brand direct customers in a three to nine month
period.
The Company expects to announce its audited full year results
for the year ended 31 December 2018 in early April 2019.
Mark Slade, CEO of Location Sciences, commented: "The speed at
which brands and agencies in the US are willing to test Verify
demonstrates both the awareness of location ad-fraud and the need
for full transparency across their location-based advertising
campaigns. The traction and interest in this new disruptive
technology sets us up for an extremely positive year ahead."
Warren Zenna, President of US Sales, commented: "CES was an
opportunity for us to demonstrate to brands and agencies how we can
help them to optimise their location-based ad campaigns. The size
of the US market makes it a high priority for us and we are looking
forward to delivering strong results as part of the paid-for
trials."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information please contact:
Location Sciences Group PLC via Milk and Honey PR
Mark Slade, Chief Executive
Officer
David Rae, Chief Financial
Officer
Stockdale Securities Limited Tel: +44 (0)20 7601 6100
Tom Griffiths
David Coaten
Milk & Honey PR Tel: +44 (0)20 3637 7310
Kirsty Leighton
Jessica Ballinger
About Location Sciences Group PLC:
Location Sciences is a leading mobile location data intelligence
company. Through its machine learning and pattern recognition
expertise, Location Sciences provides its customers with a range of
services, including location verification, online to offline
attribution, out of home (OOH) solutions, location planning and
consumer behaviour insights.
Verify is a bespoke solution built by Location Sciences to
extract the full value of location-based advertising campaigns.
Verify protects advertisers against location ad-fraud by ensuring
their location-based adverts are targeting the right audiences.
Through Verify, advertisers have access to real time insights into
how their advertising campaigns are performing, enabling them to
cut wastage and enhance effectiveness.
Location Sciences works in partnership with brands, agencies,
OOH media owners and technology partners to extract the full value
of mobile location data.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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