23rd Mar 2020 18:40
(Alliance News) - Zoo Digital Group PLC on Monday guided for annual revenue growth with the second half particularly strong.
Zoo Digital, which provides cloud-based localisation and digital distribution services to the entertainment industry, sees revenue for the financial year ending this month rising 4% to USD30 million.
Second-half revenue climbed at least 12%, Zoo Digital added.
Earnings before interest, tax, depreciation, and amortisation is seen at "not less" than USD2.2 million, far higher than the USD400,000 achieved a year before.
"As we approach the start of the new financial year we are currently experiencing higher levels of interest in our cloud-based localisation services from major media companies. Given the full impact of Covid-19 on our customers remains unclear, the board does not believe it is prudent to provide guidance on the potential full-year outcome for financial 2021 and financial 2022 at this time," said Zoo Digital.
"Due to the robustness of Zoo's business model and the strength of its customer relationships, the Board is confident of being well-positioned for growth and remains confident in the long-term success of the business."
Shares closed 5.1% lower on Monday at 37.00 pence each.
By George Collard; [email protected]
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