Last checked at 6 Oct 2008 07:00
6 October 2008
ZOO DIGITAL GROUP PLC
("ZOO" or the "Group")
AGM STATEMENT
ZOO Digital Group plc, provider of technology-led production solutions for the home entertainment market, will today hold its AGM. It will take place at 11am at the Group's offices at The Tower, 2 Furnival Square, Sheffield. Dr C H B Honeyborne, Chairman will make the following statement.
"At the time of announcing our preliminary results we indicated that the Group had been EBITDA profitable for the period April to August 2008. We are pleased to report that this trading performance has continued throughout September and we expect to show a positive EBITDA result for the first half of the financial year. This improvement in performance has significantly improved the cashflow of the Group.
The Group continues to work closely with major Hollywood studios around the introduction of new products and services. Recently introduced technologies, such as the Blu-ray platform, offer exciting opportunities for the Group. ZOO's tools and services continue to gain recognition in Hollywood and the Company is increasingly seen as a trusted supplier to the major studios. The success in achieving a 15 year contract with an existing Hollywood studio client and the adoption of our tools by Sony underpin our confidence. We are pleased that we are able to report a much improved financial performance and are optimistic for the future.
A more detailed update on trading will be given at the half year results in December".
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For further enquiries please contact:
| ZOO Digital Group plc | Tel: 0114 241 3700 |
| Stuart Green - Chief Executive Officer | |
| Helen Gilder - Group Finance Director | |
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| KBC Peel Hunt Ltd | Tel: 020 7418 8900 |
| Richard Kauffer / Daniel Harris | |
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| Weber Shandwick Financial | Tel: 020 7067 0700 |
| James Chandler / Nick Dibden / John Moriarty | |
Notes to Editors
About ZOO Digital Group plc
ZOO Digital Group plc is a provider of technology-led production solutions for the home entertainment market. Its innovative and highly efficient software and services are enabling Hollywood studios to considerably reduce their costs and the time to market of home entertainment products.
The Group has two subsidiaries, ZOOtech Limited http://www.zoo-tech.com/ and Scope Seven LLC. http://www.scopeseven.com/. The Group creates ground-breaking software products and provides digital media production services, including video compression, authoring and interactive title development.
ZOO is focused on the worldwide digital media production markets and in particular video production for entertainment, games and education applications, with customers including Hollywood studios and other producers and publishers of video-based products. The Group provides innovative software technologies that transform digital workflows through radical process re-engineering combined with a range of associated production and custom development services.