MediaZest PLC - Surrey, England-based audiovisual solutions provider - Swings to pretax loss of GBP553,000 in the financial year ended September 30, from a profit of GBP12,000 a year prior. Revenue falls 17% to GBP2.3 million from GBP2.8 million. Looking ahead, says demand in three core sectors of retail, automotive, and corporate offices continues to grow. Further, notes rise in incoming opportunities after the financial year ended amid increased marketing activity. Says that longer term client projects are set to continue in the current financial year 2024. Whilst noting that the company is disappointed about the results of financial 2023, Chief Executive Officer Geoff Robertson says: "Following the uptick in activity in Q4, we believe we are well-positioned moving into the next financial year. Ongoing long term project roll outs with existing customers including Hyundai [Motor Co], Pets at Home [Group PLC] and Lululemon [athletica Inc], in Europe in particular, have continued into FY24 with further installations already completed and additional projects forthcoming."
Current stock price: 0.057 pence each, closed 19% lower on Tuesday in London
12-month change: down 19%
By Tom Budszus, Alliance News slot editor
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Mediazest (MDZ)
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