Mediazest plunges as full-year loss widens

(ShareCast News) - Shares in Mediazest plunged over 28% early on Monday, after the media agency posted a wider pre-tax loss, due to a decline in revenues.The group posted a £776,000 pre-tax loss for the 12 months to the end of March, 14.9% more than in 2014, while its revenues declined 13.7% year-on-year to reach £2.5m.The group attributed the decline in its sales to a delay in a major project, although the company said it had secured a number of major contracts during the year, adding it was aiming to improve its financial performance this year.Mediazest shares were down 28.72% to 0.139p at 0936 BST on Monday.