13th Jul 2021 12:05
Zoo Digital Group PLC - London-based provider of cloud-based localisation and digital distribution services - Posts annual revenue of USD39.5 million for the year ended March 31, up 33% from USD29.8 million in previous year. However, posts pretax loss of USD3.6 million, after breakeven last year. Notes loss driven heavily by a non-cash fair value movement on an embedded derivative of USD3.5 million.
"Zoo performed strongly during the year with revenues growing by a third to USD39.5 million and making good progress towards our ambitious goal of USD100 million of sales," comments Chief Executive Stuart Green.
Zoo Digital Group says it expects to deliver significant growth in the first half of financial year 2022, following strong first quarter trading ahead of the prior year period.
"Looking forward, we continue to win new business as production of new titles is now resuming and significant orders for catalogue projects continue. Our new financial year has begun well, maintaining the momentum achieved last year, and we remain confident of continuing growth and achieving market expectations."
Following a fundraise in April, Zoo Digital says it is now looking into establishing regional hubs for delivering media services in the Middle East, India and Southeast Asia.
Current stock price: 121.18 pence, down 3.8% Tuesday
Year-to-date change: up 94%
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Zoo Digital