21 December 2021
MediaZest Plc
("MediaZest", the "Company” or the “Group”; AIM: MDZ)
Trading Update
MediaZest (AIM: MDZ), the audio-visual solutions provider, is
pleased to provide an update on current trading and performance
during the second half of the financial year ended 30 September 2021.
As expected and previously noted, the second half of the year
showed notable improvement in the Company’s financial performance
as demand for new projects increased in conjunction with the
lifting of Covid related restrictions which had been in place
during the Group’s financial H1, being the six months ended
31 March 2021. As a consequence, cash
in hand at the period end also showed improvement upon the prior
year and the half year interim results.
The Group’s year end audit is now underway and this will
continue throughout January 2022. The
Group expects to announce its annual financial results shortly
thereafter.
Current Trading
The Group’s operating subsidiary, MediaZest International
Limited (“MediaZest International”), continues to experience strong
demand across key sectors including Retail, Automotive and
Corporate Office spaces in the new financial year ending
30 September 2022.
The long-term strategic focus on large scale roll out
opportunities that have the potential to run for several years, and
on recurring revenue streams across multi-year deals continues to
deliver improving results. The Directors believe the Group is well
set heading into 2022, although the Board remains mindful of the
risk of potential future disruption in light of the continually
evolving Covid pandemic.
Key project highlights in recent months include a new Innovation
Centre for leading supply chain and logistics provider Wincanton,
the new Rockar Jaguar Land Rover dealership in London’s Canary
Wharf coupled with several new stores for each of long-term clients
Pets at Home, HMV, Post Office and Lululemon.
Future Strategy
The Board believes the anticipated improvement in financial
results and the foundations in place with several existing
long-term clients provide the Group with a platform from which to
grow both organically and by acquisition in 2022.
As such the Board has recently engaged with several potential
acquisition targets, in the same market as MediaZest International,
with a view to possible business combinations. Whilst these
discussions have been positive to date, there can be no guarantees
that they will lead to a value accretive transaction or
transactions for MediaZest.
In the interim, focus continues to be placed on adding more
long-term clients with recurring revenue opportunities to further
the successful work of recent years and build a bigger platform for
that growth.
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: |
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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 |
|
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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
