ZOO Digital Group plc Trading Update: Continued momentum

ZOO Digital Group plc (LON:ZOO), the provider of subtitling and digital distribution services for the global entertainment industry, today provides an update on current trading for the year ending 31 March 2017.

The Company is pleased to announce that the momentum seen in the first half of the financial year has continued and, as such, expects the second half performance to show less seasonal variation than in previous years in terms of both Revenue and EBITDA, with reported EBITDA for the full year expected to be at least $1.8m. This, in turn, means that the Company expects to deliver a significant improvement for the full year when compared to the financial year ended 31 March 2016.

Cash flow has improved month on month and continues to do so, but the overall working capital position is currently constraining the volume of new business that the Company can take on. The Company’s net current liabilities (unaudited) at 31 December 2016 were $4.3m which includes $3.8m in convertible unsecured loan stock held predominantly by major shareholders with whom the Company is currently discussing an extension of the term.

The Company will provide a further trading update for the year ending 31 March 2017 in April, prior to the release of its audited final results.

Stuart Green, Chief Executive of ZOO, commented: “The fact that our second half performance will show an improvement over prior years is a significant factor for ZOO. The business has been typically weighted to the first half due to our reliance on a small number of customers and on the seasonality of the home entertainment market. This performance demonstrates our success to date in diversifying our revenue streams but also points to the transformational change that the entertainment industry has undergone and the strength of our offering for digital distribution.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn
    Zoo Digital Group Plc

    More articles like this

    Zoo Digital Group Plc

    ZOO Digital Group plc well below expectations

    ZOO Digital Group plc (LON: ZOO), the provider of cloud-based localisation and digital distribution services for the global entertainment industry, provided today an update on current trading for the year ending 31 March 2019. Although trading in the second

    Zoo Digital Group Plc

    AIM Awards 2018 – Best Performing Share Award

    Zoo Digital Group plc (LON:ZOO) have won the Best Performing Share Award at the AIM Awards 2018. Each year the AIM ‘club’ gathers to celebrate outstanding achievement on the world’s most successful growth market. Sponsored by PwC, the Awards identify

    Zoo Digital Group Plc

    NFC is Magic – Celebrating Ada Lovelace Day 2018

    Zoo Digital is extremely proud to sponsor the Sheffield Women In Tech ‘NFC is Magic’ event taking place this evening! The Sheffield get together will be celebrating the achievements of WomenInTech and helping to inspire a future generation of

    Zoo Digital Group Plc

    Meet the ZOO Localization Network

    ZOO’s global network of freelancers – connected by awesome cloud technology – is able to work any time, anywhere around the world localizing the worlds most sought-after TV and movie content. To show our appreciation for these loyal linguists, we’ve

    Zoo Digital Group Plc

    Progessive Equity Research: Zoo Digital Group plc

    ZOO Digital Group plc (LON:ZOO) released its AGM statement today highlighting continued positive momentum within the Group.  The Group expects to meet FY2019E expectations driven by the increasing success of its cloud-based dubbing service, its expanded service offering,

    Zoo Digital Group Plc

    ZOO Digital Group plc Expect H1 Revenues at least 17% higher YOY

    ZOO Digital Group plc (LON:ZOO), the provider of cloud-based localisation and digital distribution services for the global entertainment industry, will be holding its Annual General Meeting (AGM) at 4.00pm today. At the meeting, Roger Jeynes, Chairman, will make