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LONDON (Alliance News) - MediaZest PLC said Thursday it saw a "positive" end to its third quarter to end-December, but said its fourth quarter and final year results are "difficult to forecast" due to some projects it is currently negotiating which could potentially fall outside of the end of the year.
The audio-visual company said it saw a net profit of GBP29,000 in the quarter, on revenue of over GBP1 million. This takes its results for its year to date to a net loss of GBP31,000, on revenue of GBP2.6 million.
MediaZest also noted that it will need to charge an accounting adjustment to its profit and loss account as a result of an employee share option scheme it has implemented. Whilst this item "does not have any cash implications", it will hit the company's year end result, MediaZest said.
"Notwithstanding the above, the group is on target to deliver its best revenue figures since 2008 and its best ever financial result at both adjusted earnings before interest, tax, depreciation and amortisation and retained profit levels," the company said in a statement.
Shares in MediaZest closed down 2.7% at 0.180 pence Thursday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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