Business
Preliminary Results
Preliminary Results.
About this update from Zinc Media Group Plc
[{"type":"text","content":"\n \nRNS Number : 7695R Zinc Media Group PLC 26 September 2017 \n\nZinc Media Group plc\n \nPreliminary results\nfor the year ended 30 June 2017\n \nZinc Media Group plc, the TV and multimedia content producer, today announces its preliminary unaudited results for financial year ended 30 June 2017 and provides an update on the Group's current trading.\n \n \n \nFinancial performance\n· Group revenues from continuing operations of £19.76m (2016: £22.62m)\n· Adjusted EBITDA* profit of £0.44m (2016: loss of £0.43m)\n· Operating loss for the year of £0.03m (2016: loss of £3.75m)\n· Basic loss per share from continuing activities 0.01p (2016: loss per share 0.91p)\n· Total assets £12.55m (2016: £15.23m)\n· Cash of £2.97m (2016: £3.54m) and net debt at £0.40m (2016: net cash £0.76m)\n· £1.27m fundraising and debt restructuring carried out during the year\n \n* Adjusted EBITDA represents earnings before interest, tax, depreciation, amortisation and exceptional items.\n \nOperational highlights\n \n· Restructuring completed, with profitability achieved for the first time in several years; growth in revenues and increased profitability is now the objective\n· Company renamed Zinc Media Group plc during the year, representing a break from the past and a new strategy and rejuvenated business model \n· Decisive action taken to return the Group to profitability with a significantly simplified product offering\n· Majority of the Group's loss-making publishing business now exited; all remaining divisions are now expected to operate profitably\n· Main focus of the Group now on its award winning TV division, with a complementary digital communications business alongside\n· Strategy is to become one of the UK's leading independent factual TV producers, with both an organic growth strategy and acquisitions\n· Senior management team in TV division strengthened during the year with several se...