(Sharecast News) - Audio visual solutions provider Mediazest "performed well" prior to the Covid-19 pandemic but said its results for February and March had been "materially adversely impacted" as a result of the outbreak.
Mediazest said on Friday that trading between October and January was "much improved" from the first half of the financial year, with revenues of ?1.2m and a small pre-tax loss of ?58,000.
However, the AIM-listed group warned that with clients beginning to defer some projects and more recently temporarily closing stores and other places of business, key projects across the UK, Milan, Copenhagen and Berlin had been affected.
As a result, Mediazest now expects "a modest loss after tax", albeit with a profitable EBITDA for the period.
Mediazest said it was not possible to assess the extent to which Covid-19 will affect forthcoming trading and financial performance but that it had identified approximately ?150,000 of cost savings.
As of 0855 BST, Mediazest shares were down 7.69% at 0.03p.
Mediazest (MDZ)13 May 2024 12:01
LONDON MARKET MIDDAY: Stocks flat as IPO chat brightens up subdued day
(Alliance News) - Stocks in London marked time on Monday, consolidating recent gains, ahead of a key week of US economic data.