27 September 2019
("MediaZest" or the "Company”; AIM: MDZ)
Ahead of today’s AGM, the Board is pleased to provide the following update on current trading.
As previously noted at length, the first half of the financial year has proved difficult against a challenging macroeconomic backdrop in the UK, felt particularly keenly in the retail sector. This has been mitigated somewhat by cost savings implemented at the beginning of 2019 and ongoing contractual revenues which continue to renew at a healthy rate.
However, the second half of the year is set to be much improved with two large projects set for completion in November/December which should generate significant profitability in the quarter ended 31 December 2019.
Further projects for Ted Baker, LuluLemon, Pets at Home, Tiffany & Co, Kuoni, HMV and Hyundai have been completed or are in progress. New business enquiries in recent weeks have markedly increased and several potentially significant opportunities are being pitched in coming months.
At this stage it is too early to be able to forecast full year results but pending successful upcoming pitches the Board expects to build upon last year’s profit for the current financial year despite the economic environment.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Chief Executive Officer
|0845 207 9378
|David Hignell/Lindsay Mair/Jamie Spotswood
SP Angel Corporate Finance LLP
|020 3470 0470
|020 3764 2341
Notes to Editors:
MediaZest is a creative 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