6th Jul 2016 09:34
LONDON (Alliance News) - Zoo Digital Group PLC on Wednesday reported a narrowed pretax loss in its recently-ended financial year as it booked lower costs and revenue rose slightly on an increase in customer numbers.
The cloud-based media production software provider said its pretax loss in the year ended March 31 narrowed to USD1.5 million from USD2.1 million the year before, as revenue rose slightly to USD11.6 million from USD11.5 million.
Zoo Digital said customer numbers increased by 29% in the year, helping to boost revenue, despite suffering major disruption after one of its largest customers disposed of its service delivery arm. Profit was also helped by "meticulous" cost controls, which lowered expenses in the year.
"We have entered our 2017 year with a stronger pipeline, a broader range of services and a greater sales capability. The board is optimistic about the company's potential for growth," Chief Executive Stuart Green said in a statement.
Shares in Zoo Digital were trading down 7.8% at 9.00 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Zoo Digital