Indoor playground designer and supplier Iplayco Corporation Ltd. (TSX-V:IPC) is seeing shares rise in mid-afternoon trading on Tuesday following an announcement on new sales. The Langley, B.C.-based company reported entering five new sales agreements worth an aggregate $3.09 million.
The new indoor playgrounds are destined for customers in Canada, China and the U.S. The U.S. order is for a new Billy Beez family entertainment center. Billy Beez, who has 13 locations across New York, California, Massachusetts and Virginia, is Iplayco's largest customer.
Iplayco President and CEO Scott Forbes says he thinks the sales will be "substantially realized" during the current fiscal year, which ends September 30, 2017. Forbes also noted that Billy Beez is continuing its expansion efforts, presumably insinuating a likelihood for more work down the road for Iplayco.
During the quarter ended March 31, 2017, Iplayco generated $3.67 million in sales.
Shares of IPC, which are tightly held and thinly traded, are up four cents (+6.67%) to 64 cents in Tuesday action.
