8th Jun 2020 16:44
(Alliance News) - Mediazest PLC on Monday said its results for the six months to March showed a "particularly pronounced" impact from the Covid-19 pandemic.
Since then, Mediazest said it has been able to deliver two previously delayed projects.
Shares in the company more than doubled at 0.060 pence each in London after the market close on Monday.
In the six months to March 31, its year-end date, the London-based audio visual services provider said it generated GBP1.5 million in revenue and earnings before interest, taxes, depreciation, and amortisation of GBP57,000.
"The impact of the Pandemic was particularly pronounced on the group's financial results for March 2020 as projects had been put on hold due to the lockdown. The group estimates that the adverse impact on the business within the six months was to reduce revenue by approximately GBP200,000 and profit by GBP80,000.
"The group is pleased to now note that as the lockdown has been eased across many countries, further client sites have re-opened and in May 2020, MediaZest delivered on two of the previously delayed projects. There are several other projects now similarly scheduled for completion in June 2020 and the board expects that all previously delayed projects will be delivered in the coming weeks."
By Eric Cunha; [email protected]
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