24 August 2021
MediaZest Plc
("MediaZest", the "Company” or the
“Group”; AIM: MDZ)
Trading
Update
MediaZest (AIM: MDZ), the creative
audio-visual company, is pleased to provide an update on current
trading and new business wins.
Further to the announcements of 11
February and 30 March 2021, the
Company continues to win additional new project work with a strong
uptake across the main vertical sectors in which it operates, with
many delivered across the second half of the current financial year
to 30 September 2021.
The main sectors the Company
specialises in are Retail, Automotive, Corporate office spaces
(including Innovation centres and virtual meeting rooms) and
Education.
As expected and noted in the
Unaudited Interim Results to 31 March
2021, the impact of this new project work would, and has,
led to a notable improvement in the Company’s performance during
the second half of the financial year.
In addition to project revenues,
ongoing recurring revenue contracts continue to be robust with
several renewals and new contracts signed in the last 4 to 5 months
(including a number of multi-year deals) with both new and existing
clients, providing greater visibility with regards to ongoing
revenue across the next 3 years and potentially beyond.
With the Group experiencing strong
demand in all four sectors, the outlook beyond 30 September 2021 also looks encouraging. As such
the Group has invested in additional sales resource, including the
recruitment of a senior salesperson for the Corporate Sector. This
has been an area of growth in recent years and particularly the
last few months as clients and potential customers adapt their
places of business with new technology solutions in order to safely
accommodate the return to the office environment for their
staff.
Geoff
Robertson, CEO commented, “We believe a lot of the
changes in the workspace environment that were taking hold before
the pandemic are being accelerated and following the recent
improvement in the Company’s financial performance, it is the right
time to invest in further growing this side of the business. Across
all sectors, the number of projects coming from established clients
and the levels of renewal and growth of recurring revenue contracts
are both encouraging and show the results of steadily building the
business and client base in recent years.”
This
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Enquiries: |
|
Geoff Robertson
Chief Executive Officer
MediaZest Plc |
0845 207 9378 |
David Hignell/Adam Cowl
Nominated Adviser
SP Angel Corporate Finance LLP |
020 3470 0470 |
Claire Noyce
Broker
Hybridan LLP |
020 3764 2341 |
|
|
Notes to Editors:
About MediaZest
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