MediaZest PLC - Surrey-based audiovisual services firm - Swings to a profit in the half-year ended March 31. Pretax profit stands at GBP40,000 versus a loss of GBP160,000 a year ago. Revenue grows to GBP1.4 million from GBP846,000. Firm will establish an office in a mainland European country that is in the EU "to better facilitate project delivery and logistics following Brexit and to capitalise on these new opportunities," Chair Lance O’Neill explains.
"The progress over the last 12 months and the outlook for the remainder of the financial year is encouraging. Long-term clients continue to look to expand the range and number of deployments with the group, reflective of the high standard of delivery," says O’Neill.
Sees strong demand in retail, automotive and corporate markets, which are its three main arms. However, "the board remains mindful of macro-economic headwinds in the second half of 2022," as it monitors the cost base.
Current stock price: 0.08 pence, up 3.2% on Tuesday
12-month change: down 11%
By Tom Budszus; tombudszus@alliancenews.com
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Mediazest (MDZ)