19 July 2023
MediaZest
Plc
("MediaZest",
or the “Group”; AIM: MDZ)
Trading
Update
MediaZest
(AIM: MDZ), the audio-visual solutions provider, is pleased to
provide the following trading update.
Progress
in the second half of the financial year ending 30 September 2023 has been promising, with
significant new business wins with both new and existing clients.
As with the first half of the financial year, recurring revenue
streams and margins remain robust.
Trading in
the Group’s European located subsidiary in the Netherlands, which was established in late
2022 to facilitate project delivery in European Union countries,
has started strongly. The Group has recently achieved new business
wins in multiple EU countries which will generate revenue in excess
of €500,000.
In the UK,
the volume of client work has also continued to grow with new
projects for several existing clients including Pets at Home,
Hyundai, HMV and Lululemon all being delivered in the second half
of the current financial year.
The Board
remains confident that the outlook for the second half of the
financial year is encouraging and expects to report improved
financial results relating to the period in due course.
Geoff Robertson, MediaZest’s CEO, commented:
“As
expected, the establishment of our subsidiary in the Netherlands has already begun to pay off,
with additional revenues generated and multiple new client projects
under negotiation. The volume of UK business also remains
encouraging with existing clients and new customers engaging with
us to deploy projects, all of which bodes well for the longer term
growth prospects of the Group.”
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.
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Enquiries:
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Geoff
Robertson
Chief
Executive Officer
MediaZest
Plc
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0845 207
9378
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David
Hignell/Adam Cowl
Nominated
Adviser
SP Angel
Corporate Finance LLP
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020 3470
0470
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Claire
Noyce
Broker
Hybridan
LLP
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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
