8th Nov 2022 12:35
(Alliance News) - Zoo Digital Group PLC on Tuesday reported maiden interim profit, as its revenue nearly doubled thanks to strong growth in localisation and media services.
Zoo Digital is a London-based provider of cloud-based localisation and digital distribution services. Shares in the firm were up 3.7% at 174.70 pence each on Tuesday afternoon in London.
In the six months ended September 30, the firm swung to a pretax profit of USD3.5 million, from a loss of GBP1.5 million the previous year. This was the company's maiden profit, it said.
Revenue rose 91% to USD51.4 million from USD26.9 million. Zoo Digital said this was thanks to strong growth in localisation and the expansion of its media services.
Localisation revenue more than doubled to USD32.3 million in the year, due to a high proportion of new titles processed.
Media services revenue grew by 39% to USD18.2 million as a result of a high volume of work in preparing predominantly new titles for release on streaming platforms.
Looking forward, Zoo Digital said it has good visibility for the second half of the year thanks to a strong order book across all its service lines.
It said it expects its full-year results to be in-line with market expectations, which it did not specify, and added it was confident of delivering continued revenue growth and margin improvement.
By Heather Rydings; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Zoo Digital