PR Newswire
London, January 28
MediaZest Plc
("MediaZest", the "Company" or "Group"; AIM: MDZ)
Trading update
MediaZest, the creative audio-visual company, is pleased to provide shareholders with an update in respect of ongoing and new business.
The Group ended calendar year 2015, Q3 FY15/16, in positive fashion with several large high profile projects completing in December.
The unaudited financial results for the quarter were reflective, with management accounts confirming revenue generated in excess of £1million and positive EBITDA of £74,000 with a corresponding net profit of £29,000.
Combined with first half unaudited results, this equates to year to date figures as at 31 December 2015 of £2.64million revenue, positive EBITDA of £82,000 and net loss reducing to £31,000.
Revenue, and therefore results for the final quarter of the year, Q4 FY15/16, are difficult to forecast at present due to several projects on which the Company is currently negotiating, potentially falling outside the year end cut off date of 31 March 2016.
The Board also notes that, at year end, an accounting adjustment will need to be charged to the profit and loss account under IFRS2 as a result of the Employee Share Option Scheme which was implemented during the current financial year. Whilst this item does not have any cash implications, it will adversely affect the year end result. This amount will be calculated in consultation with the Group's auditors as part of the 31 March 2016 year end audit process, scheduled to take place in the summer of 2016.
Notwithstanding the above, the Group is on target to deliver its best revenue figures since 2008 and its best ever financial result at both adjusted EBITDA and retained profit levels.
New projects continue to be won with the likes of Hyundai, Adidas, Kuoni and several other existing clients as well as with new customers including Estee Lauder and Mamas & Papas.
Enquiries:
Geoff Robertson
Chief Executive Officer
MediaZest Plc 0845 207 9378
Edward Hutton / David Hignell
Nominated Adviser
Northland Capital Partners Limited 020 7382 1100
Claire Noyce / William Lynne / Niall Pearson
Broker
Hybridan LLP 020 3764 2341/ 2343
Notes to Editors:
About MediaZest
MediaZest is a creative media agency and audio visual systems integrator that specialises in providing innovative marketing solutions to leading retailers, brand owners and corporations, but also works in the public sector in both the NHS and Education markets. The Group supplies an integrated service from content creation and system design to installation, technical support and maintenance. MediaZest was admitted to the London Stock Exchange's AIM market in February 2005. For more information, please visit www.mediazest.com
