MediaZest posts mixed bag of half-year results

MediaZest reported its unaudited results for the six months to 30 September on Wednesday, for itself and its wholly owned subsidiary company MediaZest International.

The AIM-traded firm’s revenue for the period was £1.47m, while gross profit at £0.63m was up 2%.

Gross margins improved to 43% from 39% last year, and EBITDA was a profit of £4,000 down from a profit of £8,000.

The basic and fully diluted loss per share was 0.01 pence, in line with the prior year, and cash in hand at period end reached £0.14m, from £0.04m.

“The board is pleased with the progress made in the first half of the year, and believes this will continue during the remainder of the year,” said chairman Lance O’Neill.

“Improvements in recurring revenue streams continue, and coupled with tight cost control and new business wins for the second half of the current financial year, the board is looking to deliver improved results for the full year ended 31 March 2017.

“However, this is subject to the acquisition, timing and delivery of certain upcoming key projects.”