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Zoo Digital Group PLC - London-based provider of cloud-based localisation and digital distribution services - For six months ended September 30 posts pretax loss of USD710,00, swinging from profit of USD374,000 a year prior. This is despite revenue increasing 15% year-on-year to USD16.4 million from USD14.2 million.
Says pretax loss is due to operating loss, plus adverse exchange rate between the dollar and pound. Operating loss for the year was USD80 million, swung from a profit of USD444,000 a year prior.
Looking ahead, Chief Executive Stuart Green says: "There remain significant volumes of back catalogue work, giving us confidence in our full year performance and we are very well placed to benefit greatly when content creation resumes. With a strong pipeline and continued momentum, the board remains confident in its ability to achieve the increased market consensus for the full year."
Cash held as at September-end was USD2.1 million, up from USD600,000 on September 30,2019.
Current stock price: 51.25p
Year-to-date change: down 7.7%
By Ife Taiwo; ifetaiwo@alliancenews.com
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