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LONDON (Alliance News) - Shares rose in MediaZest PLC on Monday after it reported a swing to profit in the first six months of its financial year due to revenue growth.
Shares in the audio-visual company rose 11% to 0.10 pence on Monday.
For the six months to the end of September, MediaZest swung to a pretax profit of GBP90,000 from a loss of GBP149,000 a year before, on revenue that rose by 36% to GBP1.8 million from GBP1.3 million.
Revenue growth was attributed to the acquisition of projects from several clients, including the European Bank for Reconstruction & Development, Ted Baker PLC, Mitsubishi Motors Corp and Hewlett-Packard Co. Revenue from these projects also included amounts delayed from the prior period.
MediaZest said it will continue to look for opportunities in overseas deployments, particularly in Europe, as the domestic UK retail market remains under pressure, creating uncertainty which leads delays in retail investments.
