Mediazest secures £500,000 of new business in H1

Audio-visual solutions provider Mediazest said on Monday that it had secured an additional £500,000 worth of new business orders over the past two months.

Mediazest said the new agreements will see it continue to roll-out digital signage installations across multiple sites in the UK and Europe for "existing key customers", and also provide a new client with a "proof of concept" project to supply digital currency screens in UK high street locations.

As a result of these wins, the AIM-listed company said it remains on track to deliver year-on-year organic revenue growth and continues to target a return to profitability. The substantial increase in recent project wins also "significantly improved" cash generation in the second half of the financial year.

Chief executive Geoff Robertson said: "We are so pleased to be building momentum with existing clients; their desire to expand digital signage into new locations is testament to the success of these current projects.

"The contracts announced today demonstrate the group’s ability to successfully convert its pipeline into revenue-generating deals with long-term substantial growth opportunities. We remain encouraged by recent progress and our ability to continue to build value in the business."

As of 1125 BST, Mediazest shares were up 3.48% at 0.080p.

Reporting by Iain Gilbert at Sharecast.com