23rd Apr 2018 15:03
LONDON (Alliance News) - Zoo Digital Group PLC said on Monday it expects to report full-year revenue of at least USD28.0 million for the financial year that ended March 31.
This is an increase from USD16.5 million the previous year. It is also expecting adjusted earnings before income, taxation, depreciation and amortisation to be at least USD2.3 million, an increase from USD1.8 million the year before.
Zoo Digital's gross cash was USD2.4 million as of March 31, an increase from USD700,000 at the end of September last year.
Localisation services - subtitling and dubbing - generate 74% of it overall revenue. Due to this, Zoo Digital has been "increasing the number of quality voice actors and dubbing professionals".
In its final results, Zoo Digital intends to re-classify the costs of the internal staff responsible for fulfilling client projects as a cost of sale rather than as a central overhead. It believes this will be "more representative of the group's trading and will have no effect on the reporting of its overall profitability".
The digital distribution service is continuing its search for a new chief financial officer.
Chief Executive Stuart Green said: "We are pleased to confirm guidance for the full-year results. We continue to see momentum in the business, driven by our localisation services, and remain optimistic for the future."
Shares in Zoo Digital were down 2.4% Monday at 100.00 pence.
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