MediaZest PLC - Surrey-based audiovisual services firm - Swings to annual profit in financial year ended September 30. Pretax profit of financial 2022 is GBP12,000 compared to a loss of GBP140,000 a year prior. Revenue climbs 26% to GBP2.8 million from GBP2.2 million. "Client demand in all three key sectors in which the company operates - retail, automotive and corporate office spaces - continued to be encouraging with new project briefs and new client pitches seen consistently throughout the year," MediaZest says. Cost of sales increases mildly in comparison to revenue, by 12% to GBP1.3 million from GBP1.2 million. Looking ahead, company aims to build on the recent progress and to generate organic growth, and evaluate potential acquisition targets "to supplement that growth where suitable," Chair Lance O'Neill says.
Current stock price: 0.067 pence, down 4.9% on Wednesday
12-month change: down 17%
By Tom Budszus, Alliance News reporter
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Mediazest (MDZ)