Zoo Digital swings to maiden interim profit as revenue nearly doubles

(Alliance News) - Zoo Digital Group PLC on Tuesday reported maiden interim profit, as its revenue ...

Alliance News 8 November, 2022 | 12:35PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Zoo Digital Group PLC on Tuesday reported maiden interim profit, as its revenue nearly doubled thanks to strong growth in localisation and media services.

Zoo Digital is a London-based provider of cloud-based localisation and digital distribution services. Shares in the firm were up 3.7% at 174.70 pence each on Tuesday afternoon in London.

In the six months ended September 30, the firm swung to a pretax profit of USD3.5 million, from a loss of GBP1.5 million the previous year. This was the company's maiden profit, it said.

Revenue rose 91% to USD51.4 million from USD26.9 million. Zoo Digital said this was thanks to strong growth in localisation and the expansion of its media services.

Localisation revenue more than doubled to USD32.3 million in the year, due to a high proportion of new titles processed.

Media services revenue grew by 39% to USD18.2 million as a result of a high volume of work in preparing predominantly new titles for release on streaming platforms.

Looking forward, Zoo Digital said it has good visibility for the second half of the year thanks to a strong order book across all its service lines.

It said it expects its full-year results to be in-line with market expectations, which it did not specify, and added it was confident of delivering continued revenue growth and margin improvement.

By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Zoo Digital Group PLC 60.75 GBX -1.22 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures