Information  X 
Enter a valid email address

Zinc Media widens H1 pretax loss as revenue dips

By BFN News | 09:17 AM | Wednesday 15 March, 2017

Zinc Media posted a much wider H1 pretax loss of £529,000, from a loss of £136,000. Revenue was lower. It did, however, note profitability at the adjusted EBITDA level from continuing operations. "The first half of the year was a period of significant restructuring of the business and with this now behind us the focus is on improving the profitability of the businesses we have retained and driving future growth," the company said. It noted that the shape of the business had transformed over the last year, having exited from a business heavily focussed on B2B print publishing and a shift in focus to a predominantly TV production business, specialising in non-scripted factual content. "Management expect the overall profitability to accelerate in the second half of the year, which is traditionally busier for the Group; particularly in the TV production businesses," the company said. Commissioned programmes currently accounted for 77% of the forecasted TV revenues for FY 2017, which gave management confidence in the outlook and the accelerating profitability for the full year. "The Group's focus over the coming months will be to convert its pipeline into commissions and ensure that as much production activity as possible falls into the current financial year, whilst also building a strong pipeline into the next financial year. "The current pipeline has a strong mix and volume of programme proposals across the different factual genres and across multiple broadcasters, both domestic and international." At 9:17am: (LON:ZIN) Zinc Media Group Plc Ord 0.00025p share price was -0.03p at 1.33p Story provided by

a d v e r t i s e m e n t