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LONDON (Alliance News) - Zoo Digital Group PLC on Thursday said the good momentum seen in the first half of its financial year has continued into the second, leading to expect a big year-on-year improvement in its annual results to March 31.
Zoo, which provides subtitling and digital distribution services to entertainment industry clients, said its second half will show less "seasonal variation" than in the past, both in terms of revenue and earnings before interest, tax, depreciation and amortisation.
It expects reported Ebitda for the year to the end of March to be around USD1.8 million, a big rise on the USD200,000 reported a year before.
"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," said Chief Executive Stuart Green.
"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," he added.
Zoo shares were up 8.1% to 9.46 pence on Thursday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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