AGM Statement

RNS Number : 0869C

Zoo Digital Group PLC

27 September 2018

 

ZOO DIGITAL GROUP PLC

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

AGM Statement

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, Roger Jeynes, Chairman, will make the following statement:

"As highlighted in our Annual Report, the Group has made significant progress in its strategy to become the leading provider of localisation and associated services to the global entertainment industry. This success has continued in the first half of the new financial year with our expanded service offering being well received by the market. The overall market for localisation services has also continued to grow as global entertainment companies execute their plans for digital distribution and increase investment in original programming.

"We expect to report revenues in the first half of the financial year at least 17% higher than the same period last year, and we are confident in the prospects for a strong second half. Accordingly, we anticipate overall full year performance will be in line with expectations.

"In particular, the success of our Cloud-based dubbing service is pleasing and, at approximately three times above our expectation for this stage of the financial year, is the main contributor to growth in the Group's revenues in the first half. Disruption has been experienced by us and other market participants in the subtitling supply chain during the transition of a major OTT operator's partner programmes, but this is easing, and we are seeing normal operations increasingly restored.

"Our first half results will also set out that we have continued to invest, in line with our expectations and in a disciplined fashion, in operational capabilities to ensure that we remain at the forefront of our industry. This has included expansion of our in-house project coordination team and our global network of freelancers, and we expect to continue this in line with increasing demand.

"We have continued to develop affiliate partnerships with in-territory service and facility operators, providing us with increased geographical presence without the high costs of establishing local offices. For example, we have in this fashion established a facility in Dubai, a first in the area for local Arabic cloud dubbing, which will operate as an important in-territory ingest point for Arabic language film and television. This comes as many of our customers seek to expand their media offerings in and from this part of the world.

"I am confident that we have put in place the technology and operating capability to continue to execute on our strategy and meet full year expectations."

Presentation slides that will accompany an investor update following the AGM will be available on the Company's website later today.

The Company intends to announce its interim financial results for the six months to 30 September 2018 on 6^th November 2018.

The Company will hold two Capital Market days for analysts and investment managers on the 10^th and 11^th October 2018 at which no price-sensitive information will be disclosed.

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.

For further enquiries please contact:

ZOO Digital Group plc	0114 241 3700
Stuart Green - Chief Executive Officer
Phillip Blundell - Chief Finance Officer
finnCap Ltd   Henrik Persson / Emily Watts (corporate finance)   Camille Gochez / Andrew Burdis (corporate broking)	020 7220 0500
Alma PR   Josh Royston / Caroline Forde / Helena Bogle	0778 090 1979

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

 

END

 

 

AGMLFMTTMBBTTMP