LONDON (Alliance News) - MediaZest PLC said Tuesday it had a "strong performance" in its first quarter with revenue rising by 76%.
Ahead of the company's annual general meeting held on Tuesday, MediaZest said revenue for the first quarter ended June 30 increased to GBP990,000 from GBP563,000 a year ago.
Furthermore, the company, which creates audio-visual products, recorded a net profit of GBP75,000 compared to a GBP127,000 loss a year prior.
As a result of the increase, the company now expects revenue for the first half to September 30 to be GBP1.8 million, up from GBP1.3 million a year ago, and a maiden net profit of GBP90,000.
MediaZest shares were trading up 12% at 0.11 pence each Tuesday.
Mediazest (MDZ)