Business
Trading Statement/Change of A
Trading Statement/Change of A.
About this update from Zoo Digital Group Plc
[{"type":"text","content":"\n RNS Number : 3266Q Zoo Digital Group PLC 08 April 2009 \n \n\n\nFor immediate release 8 April 2009\n\nZOO DIGITAL GROUP PLC\n('ZOO' or 'the Group')\n\ntrading update/CHANGE OF ADVISER\n\nZOO Digital Group plc, the creative media production and technology company, today announces an update on trading for the year ended 31 March 2009 and a change of adviser.\n\nTrading Update\n\nThe Board is pleased to announce that ZOO's results for the year are anticipated to be in line with management expectations. Revenue for the period was in the region of £6.6m (2008: £3.3m) showing an increase of 100% over the previous year. The second half revenue exceeds that of the first half despite an element of seasonality which favours the first six months as the industry prepares products for the holiday season. Earnings before interest, tax, depreciation, amortisation were £1.3m (2008: loss £1.4m) after an exchange gain of £1.6m. Management expects the Group to achieve a profit of around £0.2m at the pre-tax level for the full year after an exceptional right off of intangible assets of £0.4m compared to a loss before tax of £2.1m in the year to 31 March 2008. The cash position at year end was approximately £989,000, compared to £675,000 at 31 March 2008.\n\nManagement's focus on its principal customers, the major film studios, has continued to prove successful and significant progress has been made in increasing the number of business units using&...