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LONDON (Alliance News) - Zoo Digital Group PLC Wednesday said trading for the six months to the end of September has continued in line with expectations, and it expects revenue for the period to be well ahead of last year.
The cloud-based media production software company said first-half revenue will be no less that USD8.6 million, a a 40% rise on the USD4.7 million in revenue it posted in its last financial year, driven by stronger revenue from its subtitling services business.
It said its expects its earnings before income, taxation, depreciation and amortisation to be similar to the comparable period a year earlier due to a rise in the use of subcontracted translators and investments made in sales, marketing and infrastructure.
It also said it recently extended its working capital facility in line with its actual and anticipated revenue growth.
Zoo said it continues to see increasing demand for its subtitling services and is adding new customers every month.
Shares in the group rose 11.8% to 6.99 pence early Wednesday, making it one of the best performers on the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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