Virtual reality firm establishing itself as a major player in market

A firm which specialises in virtual reality experiences had revenues of £2.9m in the last year. Immotion, which is based in Salford Quays, has published its final results.The company had revenues of £1.9m from continuing operations but its underlying losses before tax were £2.9m. The firm joined AIM last July and raised £4.8m in a share placing. A further placing raised £3.1m last month.It successfully opened ten ImmotionVR centres and secured deals with major partners such as Merlin Entertainments.Sir Robin Miller, chairman of the firm, said: “Immotion Group is quickly becoming a major player in the exciting world of Virtual Reality. Since flotation, the group has secured partnerships with some serious entertainment businesses, including Merlin, the largest entertainment business in the world after Disney.“The approach of creating cutting edge VR content, and blending this with cost effective motion platforms, has given the Group the ability to deliver a suite of immersive experiences at an affordable end price.