Zinc Media Group PLC Trading Update (1773L)
July 17 2017 - 1:00AM
UK Regulatory
TIDMZIN
RNS Number : 1773L
Zinc Media Group PLC
17 July 2017
17 July 2017
Zinc Media Group plc ("Zinc Media", the "Group" or the
"Company")
Trading Update
Zinc Media Group plc (AIM: ZIN), the leading TV and multimedia
content producer, announces the following trading update ahead of
its audited preliminary results for the year ended 30 June 2017
which the Company expects to announce in mid-October 2017.
For the first time in recent years the Group has returned to
profitability at an adjusted EBITDA level and expects to report an
adjusted EBITDA profit for the full year in excess of GBP0.3m.
As detailed in the interim results, the year was characterised
by a restructuring of the business, involving an exit from the vast
majority of the publishing businesses, which as a division was
operating unprofitably, to enable the Group to focus on its TV
production and digital communications divisions. The restructuring
has positioned the business strongly for the current financial year
and beyond. The Directors believe that the Group's profitability
will increase substantially during the current financial year.
Progress continues to be made in each of the divisions. The TV
division continues to win commissions, with the programming mix
characterised by longer running series, bigger budgets and new
international broadcaster relationships. The quality of Zinc
Media's products continues to be recognised in the marketplace,
with a 2017 BAFTA nomination for 'Inside Obama's White House' and
five awards at the EVCOM Screen Awards for short form film.
Furthermore, with several senior management hires having been
made in the last financial year, the Group believes it now has the
right team of talented executives to drive sustained growth.
The expectation of increased profitability in the current
financial year is supported by a strong order book in the TV
division. At the start of the new financial year the TV division
had a commissioned slate (to be delivered during the financial
year) of GBP6.5 million. This is 76 per cent. higher than at the
beginning of the previous financial year, when the commissioned
slate stood at GBP3.7 million. All ongoing divisions traded
profitably during the last financial year and this is expected to
continue in the current financial year.
For further information, please contact:
Zinc Media Group plc +44 (0) 20 7878 2311
Peter Bertram, Chairman
David Galan, Chief Operating and Financial Officer
www.zincmedia.com
N+1 Singer (NOMAD and Broker to Zinc Media) +44 (0) 20 7496 3000
Shaun Dobson / Lauren Kettle
Yellow Jersey PR
Felicity Winkles +44 (0) 7748 843 871
Alistair de Kare Silver +44 (0) 7825 916 715
Francesca Hillier +44 (0) 7708 400 470
Notes to Editors
Zinc Media Group plc is a leading British based producer of
high-quality television programmes and multimedia communications
content. The Group operates three divisions: Television production;
digital communications and publishing.
The core television production division comprises four award
winning and critically acclaimed television production companies
including Blakeway; Brook Lapping; Films of Record and Reef
Television whose brands produce television and radio programmes for
both UK and international broadcasters.
The communications division specialises in creating
communications strategies and behaviour change programmes,
campaigns and resources for corporates, charities and government
departments. This division runs a contract for the Transport for
London.
The Publishing division publishes homeowner-planning guidelines
for local authorities across the UK and sells trader advertising in
those guidelines.
For further information on Zinc Media please visit:
http://www.zincmedia.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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