STOCKS NEWS EUROPE-Lo-Q soars as sees FY results ahead of view

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11:04GMT 21Nov2008-Lo-Q soars as sees FY results ahead of view

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Shares in Lo-Q (LOQ.L) jump 20.6 percent to 39 pence as the virtual queuing technology company says it expects results for the year ending Dec. 31 to be significantly ahead of market expectations.

Arbuthnot Securities lifts its pretax profit forecast for 2008 to 1.85 million pounds from 1.4 million pounds, and for 2009, to 1.9 million pounds from 1.5 million pounds.

"With major customer Six Flags indicating that it will be using Lo-Q's technology in two more parks and the scope for Lo-Q to win more new customers, we would hope that the 2009 numbers will prove equally as conservative as our original 0.7 million pound 2008 pretax profit forecast at the time of initiation of coverage in June," says the broker.

Arbuthnot reiterates its "strong buy" recommendation and 73 pence target price on the company. For more double click on [ID:nBNG412489]

Reuters Messaging rm://tricia.wright.reuters.com@reuters.net  Continued...