MediaZest swings to interim profit

Media and audio visual installer group MediaZest swung to an interim profit and remained confident the positive trend will continue for the remainder of the year.

In the six months to 30 September, the group posted earnings before interest, tax, depreciation and amortisation of £8,000 compared with a £180,000 loss in the corresponding period in 2014, while revenue rose 1.6% year-on-year to £1.60m and the post-tax loss declined 70.4% to £60,000.

The group said its retail sector, which includes automotive retail, generated over £900,000 in revenue across its UK and European stores, while the corporate and education sectors delivered revenue of £450,000 and £250,000 respectively.

Meanwhile, the board strategy of focusing on delivering a full service to its client base, which includes maintenance service as well as content management and data analytics, boosted gross profit margin from 33.4% to 38.5%.

“Whilst improvements in recurring revenue streams have helped with visibility of income, work still remains in this area to improve quality of revenues,” said group chairman Lance O’Neill.

“The board is optimistic about 2016, however, visibility for the next calendar year is unpredictable at this stage and as such, careful control on administrative costs will continue.”

MediaZest shares were down 1.10% to 0.198p at 1037 GMT on Monday.