Business
Final Results for the year ended 31 March 2014
Final Results for the year ended 31 March 2014.
About this update from Zoo Digital Group Plc
[{"type":"text","content":"\n \nRNS Number : 2967Q Zoo Digital Group PLC 29 August 2014 \n\n29 August 2014\nZOO DIGITAL GROUP PLC\n(\"ZOO\" or \"the Group\")\n \nFINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2014\n \nZOO Digital Group plc, the provider of cloud-based media production services and software to global creative organisations, today announces its financial results for the year ended 31 March 2014.\nHIGHLIGHTS\n \nOperational highlights\n \n· Launch of the ZOOsubs subtitling and captioning services delivered using proprietary Cloud-based systems.\n· Products and services more focused and differentiated, serving a greatly diversified client base.\n· Now serving five of the six major Hollywood studios either directly or indirectly through intermediaries, plus second tier film and TV producers.\n· Monthly billings increased in the second half, a trend which has continued into the new year.\n· Agreed an extension of the term of £1.77m convertible loan notes by four years to October 2017.\n \n \nKey Financials\n· Revenues of $9.6m (2013: $10.4m) \n· Adjusted EBITDA loss of $0.4m (2013: Profit of $0.7m)*\n· Adjusted operating loss of $2.1m (2013: $0.9m)*\n· Year-end cash balance $0.1m (2013: $1.0m) \n \n* Adjusted EBITDA and operating loss are stated before share based payments of $0.03m (2013: $0.1m).\n \n \n \nStuart Green, CEO of ZOO Digital, commented,\n\"At the time of our interim results I stated that we had succeeded in creating a more flexible and focused business but that the Board's primary aim was to build sustainable growth in revenues. I am glad to report that I believe ZOO is well on this path. Billings in the second half were an improvement on the first half, a trend which I am pleased to confirm has continued into the new financial year.\n \n\"The Company has succeeded in diversifying both its client base and revenue mix as well as reducing its exposure to the production of physical media. With the ability to deliver across all formats of digital content and increasing customer diversification, t...