10th Feb 2025 09:36
(Alliance News) - Zinc Media Group PLC on Monday said it has made an "excellent" start to 2025, with a strong forward order book providing confidence in the future.
The optimistic outlook came as the London-based television production group said adjusted earnings before interest, tax, depreciation and amortisation increased by 50% to GBP1.5 million in the year to December from GBP1.0 million in 2023, in line with market expectations.
Shares in Zinc Media were 6.9% higher at 66.25 pence each in London on Monday morning.
Revenue from continuing operations fell 20% to GBP32 million from GBP40 million, reflecting the disposal and closure of non-core businesses during the year, and some opportunities moving into the new financial year which have now been commissioned.
"During the year, Zinc made substantial progress in executing its strategic plan, building on investment in organic and acquisitive growth in recent years to double the size of the business, expand its offering, and diversify the revenue mix," the firm added in its trading statement.
Zinc Media disclosed "better than expected" year-end gross cash of GBP6.3 million, rising from GBP4.9 million a year prior, following positive cash generation for the second year running, and GBP1.3 million net cash.
A strong forward order book was flagged, up 24% on the same point last year, with GBP21 million secured for 2025.
The firm also noted a "solid" pipeline with GBP4 million of potential revenue in highly advanced stages of discussion, and extensive additional earlier stage opportunities ongoing, "supporting confidence in the year ahead".
Chief Executive Mark Browning said: "The group has undergone an exceptional transformation in recent years, further enhanced in FY24 by the disposal of the non-core business, Zinc Communicate Publishing, the acquisition of Raw Cut TV and the launch of our first entertainment label Electric Violet.
"Together, these actions have focused the group on its higher margin television and content production, whilst broadening its offering in this sector; positioning the group for further growth."
Browning reported an "excellent" start to the new financial year, with a "slew" of new, high-profile commissions and launches.
"Forward bookings for the current year are well ahead of the same time last year, and we have a strong pipeline for the year ahead. This level of activity demonstrates the strength of our reputation in the industry and underpins our confidence in the continuing profitable growth of the group," he added.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.