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Zinc Media expects record year of Revenue and Profitability in FY23, strong forward bookings for FY24

Zinc Media Group plc (LON:ZIN), the award-winning television and content production group, has announced that, subject to audit, it expects to deliver a record year of revenue and profitability in line with market expectations for FY23, and is starting FY24 with the highest level of forward bookings.

Financial highlights:

·      Full year revenue in FY23 increased over 30% to £40m (FY22: £30m) driven by 20% organic growth in television revenues and the impact of a full year of recognition of The Edge which was acquired in August 2022.

·      Adjusted EBITDA is expected to be £1m (FY22: £0.1m), the highest for over 10 years and in line with market expectations.

·      Strong forward order book for FY24:

·      £17m of revenue secured for FY24, which is £2m more than at the same point last year and reflects a further £3m since the trading update on 27 November 2023.

·      £5m of revenue in highly advanced stages of discussion for recognition in FY24, with a substantial pipeline of opportunity for the year ahead in earlier stage discussions.

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