Business
Results for the year ended 30 September 2023
Results for the year ended 30 September 2023.
About this update from Mediazest Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n 5 March 2024This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. MediaZest Plc(“MediaZest”, the “Company”, or the “Group”) Results for the year ended 30 September 2023 MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider, announces its consolidated audited results for the year ended 30 September 2023 (“FY23”). The second half performance, particularly Q4, showed a marked improvement on the first half year’s trading, despite the uncertainty of the macro-economic environment in 2023, which these results reflect. The resumption of key client projects at the end of the year, a notable increase in incoming opportunities post year end, and an increasing contribution from recurring revenues, gives the board confidence in MediaZest’s potential as it targets year-on-year growth and a return to profitability. Operational Highlights\tPick up in client demand, with new project briefs in H2 and resumption of key client project in Q4\tGrowth in long term recurring revenue contracts with recurring annual run rate at 30 September 2023 of c. £700,000\tEuropean subsidiary established in the Netherlands; first project delivered, and orders secured\t\t\tNew large global automotive client added in FY23, providing solutions initially in one EU territory \t\t\tGround-breaking project undertaken with digital artist client for immersive art gallery in London\tLong term clients progressed roll out programmes or ongoing works during the year: \t\t\tHyundai show room audio visual roll out continued, leading to several new dealership projects \t\tPets at Home digital signage solutions deployed in over 100 stores with more in the pipeline\t\tLululemon UK projects supplemented by new stores in several European locations in H2 FY23\t\tHMV continued to open and refurbish new stores with audio solutions across the UK\t\t Financial Highlights \t\t\t\t\t\t\t\t\tYear ended 30 September \t\t\t\t\t\t\t\t\tFY23\t\t\t\t\t\t\t\t\tFY22\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t£’000\t\t\t\t\t\t\t\t\t£’000\t\t\t\t\t\t\t\t\t\t\t\t\tR...