Weather Lottery considers listing relocation
WEATHER Lottery said it is considering a move onto the PLUS market as its recent listing on AIM is already becoming “cost prohibitive”.
The Leeds-based company, which helps clubs, charities and societies raise funds for projects and developments, said that current economic and market conditions were making the board to consider a change in listing and that further announcements would be made when appropriate.
Weather Lottery today reported a like-for-like fall in pre-tax losses to £26,000 from £57,000 for the six month period ended January 31, 2009.
Cost of sales during the period rose to £501,000 from £432,000. Revenue slipped slightly from £691,000 to £687,000.
The firm said lottery lines played had stayed level at around 27,000 but while enquiries are still “very healthy” the number being turned into playing lines was proving elusive.
Keith Milhench, Weather Lottery’s chief executive, said that the company’s objective remained to build and expand its paper-based and online entry for society lotteries in charity, eductation and sport.
“While considerable progress has been made in establishing these services much has still to be done to improve, expand and enhance them,” he added.
“A new secondary lottery has been launched, which gives societies a larger return and it is hoped that this will encourage new societies to join.”
Mr Milhench said that the coming year was pivotal in the development of the company, and that it was well placed to take advantage of opportunities, which would help it grow to a higher level.
Weather Lottery provides all the tools required for an organisation to run its own lottery each day.
Members of the lottery get four chances to win up to £10,000 for just £1 per week. Each time the member plays they are helping their club, school, charity or society to raise much-needed funds.
Revenues generated from the lotteries can be put towards new computers, sports facilities and funds for good causes. The initiatives are marketed to the sport, charity, education and political sectors and to not-for-profit organisations.
