AGM Statement and Trading Update

RNS Number : 2106M

Zoo Digital Group PLC

20 September 2021

 

20 September 2021

ZOO DIGITAL GROUP PLC

("ZOO", the "Group" or the "Company")

AGM Statement and Trading Update

ZOO Digital Group plc (AIM: ZOO), the provider of cloud-based localisation and digital distribution services for the global entertainment industry, will hold its Annual General Meeting (AGM) at 4.00pm today. At the meeting, Gillian Wilmot, Chairman, will make the following statement:

"I am excited to provide a further update ahead of the end of our first half year, building on the positive trading statement of 23 August.

"We continue to see strong momentum in the business as we deliver ongoing support to our customers for further territory launches of streaming services and migration of their catalogue titles. We anticipate revenues for H1 will be slightly ahead of guidance and we expect to deliver a significant increase in EBITDA compared to the FY21 comparator period benefitting from significant revenue growth and operational gearing.

"In the past month we have seen a significant expansion of orders for localisation and media services relating to new original titles following the resumption of productions. This gives us much improved visibility through H2 and confidence to continue with our growth plans.

"We have progressed negotiations to establish regional hubs in strategic international locations, significantly strengthening our global offering. We expect the first of these to be announced shortly.

"To enable us to fulfil the growing order book arising from our expanding customer relationships, we have continued to recruit additional staff in most departments of the Company.

"I would like to thank our shareholders for their continuing support, and particularly our loan note holders for their commitment to the Company over many years, and for agreeing to convert their loans into the capital of ZOO prior to the end of September 2021. Arrangements for the conversion are being finalised now and will be announced shortly.

"I would also like to extend my thanks to all ZOO colleagues around the world for their commitment and hard work that enables us to delight our customers with industry-leading services and technology for which ZOO has become renowned.

"A strong pipeline of work and excellent customer relationships gives us great confidence in meeting full year market expectations, and I look forward to updating shareholders on our further positive progress in due course."

Presentation slides that will accompany an investor update following the AGM will be available on the Company's website later today. Shareholders may register to join a live stream of the AGM and investor briefing here: https://www.zoodigital.com/agm-2021/

The Company intends to announce its interim financial results for the six months to 30 September 2020 in November 2021.

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").  Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for making this announcement is CFO Phillip Blundell.

For further enquiries please contact:

ZOO Digital Group plc [phone] Stuart Green - Chief Executive Officer Phillip Blundell - Chief Finance Officer Stifel Nicolaus Europe Limited Fred Walsh / Tom Marsh [phone] Instinctif Partners Matthew Smallwood / Hannah Campbell [phone] [e-mail]

About ZOO Digital Group plc:

ZOO Digital is a provider of services allowing TV and movie content to be subtitled and dubbed in any language and prepared for sale with all major online retailers. ZOO's clients are some of the best-known brands in the world including major Hollywood studios, global broadcasters and independent distributors.

ZOO's point of difference in the marketplace is its development and use of innovative cloud technology. This ensures that content is localised in any language and delivered to all the major online platforms such as Amazon, iTunes, Google and Hulu with reduced time to market, higher quality and lower costs.  ZOO's agile, cloud-based business model enables clients to respond to market trends, scale easily with business growth and capitalise on new routes to market in the fast moving and evolving digital industry.

ZOO operates from the entertainment hubs of Los Angeles and London with a development and production centre in Sheffield. Its full-service proposition includes digital distribution, subtitling & captioning, metadata creation & localisation, dubbing, artwork localisation, workflow and asset management. 

www.zoodigital.com

 

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