MediaZest winning new business at 'encouraging' rate

Audio-visual creative company MediaZest updated the market on new business wins on Tuesday, reporting that it had continued to secure new project work since its last update on 11 February at “an encouraging rate”.

The AIM-traded firm, which was holding its annual general meeting, said more than £0.25m of confirmed additional written orders had been received, and about the same amount of further orders on top of those were currently at the final stage of negotiation.

Several additional other projects were said to be at an advanced stage of discussion with both new and existing clients.

A small proportion of those projects had already been completed, but the board said it expected the majority to be delivered in the second half of its current financial year ending 30 September.

“We have seen a marked increase in new business opportunities since the beginning of the calendar year, and the board is pleased with the rate at which these opportunities are being converted into orders,” said chief executive officer Geoff Robertson.

“Although some uncertainty remains, primarily due to the ongoing impact of Covid-19, the outlook for the second half of the financial year is promising and we look forward to updating our shareholders further in due course.”

At 1131 BST, shares in MediaZest were up 37.83% at 0.12p.