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Zoo Digital Group PLC - London-based provider of cloud-based localisation and digital distribution services - Swings to annual profit in its financial year 2022 as it cites surging demand. Pretax profit in the financial year that ended March 31 stands at $1.1 million versus a loss of $3.6 million a year ago. Revenue jumps 78% to $70.4 million from $39.5 million. Says trading in first quarter is strong ‘and significantly ahead of the equivalent period in the prior year.’
‘The record levels of investment across the entertainment industry in new original content is creating unprecedented demand for localisation and media services,’ it explains.
It adds: ‘We expect sales in the first half to exceed the second half of the prior year which was in turn 60% ahead of the first half of financial year 2022.’
Current stock price: 113.00 pence, up 7.1% on Thursday
12-month change: down 11%
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