8th Jul 2024 14:27
Zinc Media Group PLC - London-based television and content production company - Expects secured revenue of GBP28 million for the six months ended June 30, GBP4 million higher than since the last update published in April. For the first half of 2023, Zinc Media had reported revenue of GBP18.1 million. A further GBP9 million for recognition in 2024 "is at highly advanced discussions on the pipeline," the company adds. It emphasises that customers are taking longer to sign off contracts and confirm the start of production due to challenges in the UK commissioning market. Total revenue won and due to be recognised is at GBP37 million, down 2.6% from GBP38 million at the same time a year ago.
Zinc Media says its longer-term pipeline was "strong" with GBP10 million of revenue booked or at a highly advanced stage, double from what it was a year prior. Chief Executive Officer Mark Browning says the board is confident in Zinc Media's ability to deliver continued profitable growth in 2024 and 2025.
Current stock price: 66.11 pence per share, down 21% on Monday afternoon in London
12-month change: down 24%
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.