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Zinc Media Group PLC on Monday said it has been trading in line with market expectations and expects to exceed last year’s revenue. The Edinburgh-based television, brand and audio production company said for 2023 it expects to report £38 million in revenue, which would reflect a 26% increase from £30.1 million in 2022. This also exceeds market expectations for revenue which stand at £35.7 million. Additionally, it said it expects its adjusted earnings before interest, tax, depreciation and amortisation to be in-line with market expectations of £1.0 million. Last year, Zinc Media reported an adjusted Ebitda of £100,000. Looking ahead, the production company said it has already secured £14 million of revenue for 2024, citing its ‘largest ever’ US television series, ’Top Gun: The Next Generation’, which is worth approximately £9 million in revenue. Chief Executive Officer Mark Browning said: ‘We are delighted to announce that the group is in excellent shape and outperforming the market despite macro headwinds impacting commissioning budgets. Securing flagship projects such as Top Gun: The Next Generation is a testament to the quality of our offering, whilst all divisions in the business continue to perform well. We have already secured our highest level of forward bookings for the next financial year, putting us on track for another strong year in [2024] and allowing us to view the future with confidence.’ Shares in Zinc Media were down 0.4% at 92.10 pence each in London on Monday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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