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Zinc Media says revenue performance tracking better than expected

By BFN News | 09:27 AM | Monday 27 July, 2020

TV and multimedia content producer Zinc Media said it expected its revenue in the second half of 2020 to be higher than original expectations outlined in May. The company said it had paused £2m of TV production due to Covid-19, but was resuming previously paused production faster than forecast. It added that it had won £2.5m of new production during lockdown, in April and May, while £6m of new business opportunities were 'highly advanced' with clients. Zinc Media also announced that it had closed its loss-making CSR business, which accounted for a substantial amount of the company's losses. 'The progress since 21 May has been encouraging,' chief executive Mark Browning said. 'With TV production activity resuming and stronger sales in June in our new Zinc Communicate division we are in a better position than we had anticipated two months ago.' 'There remain significant challenges ahead, and forecasting is exceptionally challenging, but we continue to win new business, improve our margins, attract new talent, and reduce our costs.' 'The changes and improvements we said we would make in our transformation plan are firmly on track.' At 9:27am: (LON:ZIN) Zinc Media Group Plc Ord 0.00025p share price was +12.25p at 54.75p Story provided by

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