Zoo Digital upgrades outlook as sales improve

Tue, 26th Jan 2021

Translation services group Zoo Digital upgraded its annual earnings guidance amid a large rise in second-half sales compared to the first half. Revenue for the year through March was now expected to be at least $38 million, up from $29.8 million year-on-year. Revenue in the second half was anticipated to be 35% above the first. 'Based on this strong performance, the result for the year is anticipated to be ahead of market expectations,' Zoo said. The company said it had continued to see the benefits of its cloud-based offering and ability to undertake projects remotely. 'Whilst new productions have been on hold due to the Covid-19 pandemic, the group continues to see increased workflow from preparing back catalogue titles for digital distribution globally, although the volume of this work is not expected to continue at such high levels once new production returns to normal,' it added. At 9:53am: (LON:ZOO) Zoo Digital Group PLC share price was 0p at 54p Story provided by StockMarketWire.com

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