(Alliance News) - Zoo Digital Group PLC on Monday reiterated its full-year guidance and reported a promising start to its new financial year.
Zoo, which provides cloud-based localisation and digital distribution services to the entertainment industry, expects revenue of USD30 million for the year that ended March 30. This would represent a 4.2% rise from USD28.8 million.
Earnings before interest, tax, depreciation, and amortisation is seen at "not less" than USD2.2 million, far higher than the USD400,000 achieved a year before.
"Trading in the first weeks of the 2021 financial year has been encouragingn and we have built a pipeline of new business. Following the temporary softening of sales experienced as customers implemented business continuity plans and halted production on new originals titles, the group has since experienced a reassuring resumption in demand."
Shares in the company were 2.7% higher at 77.00 pence each in London on Monday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Zoo Digital (ZOO)