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LocoSoco Group Plc
(“LocoSoco”, or “the Company”)
Thursday 2nd April 2020
LocoSoco Group Plc, the Wiener Borse DM traded company that builds technology to profit from creating sustainable communities, is pleased to provide a trading update.
Highlights:
- GBP 150,000 revenue in March 2020 from sales of hand sanitiser and refill stations.
- LocoSoco has temporarily secured a warehouse in Essex, sited adjacent to the M25. The warehouse premises has a 4,000 square metre capacity, and has already been adapted by LocoSoco as a click and collect distribution point for retailers and regional distributors. Subject to negotiation, it is the company’s intention to secure this warehouse, or a similar premises a permanent distribution / collection hub for LocoSoco.
- With 250 outlets across the UK, LocoSoco continue to develop relationships and expand existing networks with a range of leading local brands.
- LocoSoco shares for shelfspace offering is rapidly gaining in popularity, i.e. shelfspace in exchange for with equity in stores across the country (10cm here, 10cm over there, a hook to display here, a screen to promote there etc). We anticipate up to 10km of shelfspace will be sold this year.
- Accelerated rollout of local community ‘enablers’, i.e. MyEco.Site, Eco Refill stations and MyDistro.Co
The surge in activity and volume has created an urgent need for a new distribution hub and warehouse. As such we have temporarily secured a warehouse in Essex, sited adjacent to the M25. The warehouse premises has a 4,000 square metre capacity, and has already been adapted by LocoSoco as a click and collect distribution point for retailers and regional distributors. We also intend to offer storage for supplies for/ from businesses that are unable to trade through the COVID-19 pandemic. Subject to negotiation, it is the company’s intention to secure this warehouse, or a similar premises a permanent distribution / collection hub for LocoSoco.
The LocoSoco shares for shelfspace concept has also become very popular with our retailer network. Quite simply, we gain shelfspace in exchange for LocoSoco equity in stores across the country (10cm here, 10cm over there, a hook to display here, a screen to promote there etc). We anticipate up to 10km of shelfspace will be sold this year, and this in turn creates a unique opportunity to bring challenger brands to market.
LocoSoco CEO James Perry commented: “This unprecedented surge in activity and volume has resulted in our team working around the clock to distribute supplies to 250+ outlets across the UK. Our sales have grown rapidly as a result of this, with GBP150,000 of sales in March alone. I would like to put on record my heartfelt thanks to our people who have worked night and day to make this happen.
We have worked to ensure our team comply with safe working practice, including social distancing and self isolation. Thankfully, no LocoSoco employees have tested positive for the COVID-19 virus.
I look forward to updating you on further progress in the coming weeks and months. Don’t forget to check in to the LocoSoco website (www.locoso.co) for the latest news and developments.
Please stay safe in the current pandemic crisis!”
Ends.
Enquiries:
LocoSoco Group PLC
James Perry, Chief Executive Officer
Simon Rendell, Non-Executive Chairman
+44 (0)203 538 0716
Novus Communications Ltd
Alan Green / Jacqueline Briscoe
+44 (0)7976 431608 / +44 (0)207 448 9839
Keswick Global AG – Capital Market Coach
Tim Curle, Klaus Schwerdtfeger
info@keswickglobal.com / +43 (1)740 408045
About LocoSoco Group Plc
LocoSoco builds technology to profit from creating sustainable communities. We work with community partners to turn community assets into eco-enterprises enabling them to generate additional revenues whilst going green.
