MDZ Mediazest Plc

 
TIDMMDZ 
 
19 October 2023 
 
MediaZest Plc 
 
("MediaZest", or the "Group"; AIM: MDZ) 
 
 Trading Update 
 
MediaZest (AIM: MDZ), the audio-visual solutions provider, is pleased to provide 
the following trading update. 
 
Progress in the second half of the financial year ending 30 September 2023 
("FY23") continued as expected, with trading results at the Group's subsidiary, 
MediaZest International Limited, showing improvement on the first half of FY23. 
 
The Group's top line revenue grew compared to the previous six months, while 
operational costs remained consistent.  Substantial projects for long standing 
clients were completed in the period, including for UK retail clients such as 
Pets at Home, Hyundai and HMV, European-wide retail clients including Lululemon 
and Education sector customers, including University College Birmingham. 
 
Several new business wins have been achieved in recent weeks, for all of the 
clients noted above as well as new customers, as the Company continues to add to 
the client base as digital signage deployments become more widespread. The 
majority of these projects will be deployed in the new financial year and, as 
such, the first half of the financial year ended 30 September 2024 ("FY24") is 
expected to start strongly. 
 
The Board continues to pursue options to add scale to the Group. As a result, 
some additional one-off costs associated with ongoing efforts to acquire 
businesses and expand the Group were incurred during the second half of FY23. 
These costs offset the improvement in operational results at a Group level, 
however the Board considers this an important element of MediaZest's ongoing 
strategy, in conjunction with organic growth. 
 
European Subsidiary 
 
The Group's European trading subsidiary began to deploy large scale projects in 
the final quarter of FY23. This included work across several European countries 
for Lululemon and for a large motor manufacturer in their dealership network. 
Subsequently, a new territory for the automotive client has already been added, 
with deployments beginning in October 2023. 
 
This segment of the Group shows encouraging signs for FY24, with additional 
projects being pitched to existing clients, and new business opportunities 
arising. 
 
Outlook 
 
The outlook at the start of FY24 is encouraging and new business opportunities 
are both significant and numerous. The Board, however, remains mindful of the 
macro-economic environment and associated challenges which may arise, so 
continues to keep a tight control on costs, whilst acknowledging the importance 
of finding and undertaking due diligence on appropriate acquisition targets. The 
Board is particularly encouraged by the strong start the European subsidiary has 
made and is delighted with the successful implementation of this part of the 
Group's strategy. 
 
This 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. 
 
Enquiries: 
Geoff Robertson                 0845 207 9378 
Chief Executive Officer 
MediaZest Plc 
David Hignell/Adam Cowl         020 3470 0470 
Nominated Adviser 
SP Angel Corporate Finance LLP 
Claire Noyce                    020 3764 2341 
Broker 
Hybridan LLP 
 
Notes to Editors: 
 
About MediaZest 
 
MediaZest is a creative audio-visual systems integrator that specialises in 
providing innovative marketing solutions to leading retailers, brand owners and 
corporations, but also works in the public sector in both the NHS and Education 
markets. The Group supplies an integrated service from content creation and 
system design to installation, technical support, and maintenance. MediaZest was 
admitted to the London Stock Exchange's AIM market in February 2005. For more 
information, please visit www.mediazest.com 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

October 19, 2023 02:00 ET (06:00 GMT)

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