Zoo Digital Group PLC AGM Statement (7912Z)
23 Settembre 2020 - 8:04AM
UK Regulatory
TIDMZOO
RNS Number : 7912Z
Zoo Digital Group PLC
23 September 2020
ZOO DIGITAL GROUP PLC
("ZOO", the "Group" or the "Company")
AGM Statement
ZOO Digital Group plc (AIM: ZOO), the provider of cloud-based
localisation and digital distribution services for the global
entertainment industry, will hold its Annual General Meeting (AGM)
at 4.00pm today. At the meeting, Gillian Wilmot, Chairman, will
make the following statement:
"I am excited to provide a positive update as we approach the
end of the first half of our financial year. With its unique
technology and service proposition, ZOO has been able to adapt
seamlessly to the current needs of our customers through the
Company's end-to-end vendor model. We expect to deliver
double-digit revenue growth in the six-month period to 30 September
2020 compared to the same period last year. This is against an
industry backdrop in which the suspension of new productions is
approaching six months, resulting in a significant reduction in
work for all businesses associated with TV and film production,
post-production and media localisation. We see this performance as
a strong endorsement of our business model.
"As we noted in the outlook statement of the Annual Report, our
ability to offer remote dubbing through our cloud-based solutions
has won new clients and has renewed and deepened commercial ties
with existing customers. This will result in significant H1 growth
year-on-year in our dubbing sales, despite the impact of COVID-19
on the production of new titles. It is safe to say that the
pandemic continues to have a negative effect on our customers and
their traditional suppliers. It has also affected the rate of
growth that we anticipated in the period for both our subtitling
and dubbing revenues and we expect the uncertainty to continue into
the calendar year 2021. However, this has not affected our ability
to attract new customers for these services which we expect will
deliver substantial revenue growth to ZOO in the long-term.
"We also noted that our leading proposition in digital packaging
has enabled streaming services to add rapidly back-catalogue
programming to their platforms. Digital packaging has also been a
major growth area for us during the period as streaming service
providers prioritise back-catalogue projects, given the significant
obstacles in new content production.
"This trend has continued and, looking forward, the demand for
our digital packaging solutions continues to grow rapidly, with
orders for delivery in Q3 significantly ahead of any other quarter
in our history. With our market-leading end-to-end solution we
continue to be a major beneficiary of this shift in industry
prioritisation.
"I would like to thank all ZOO colleagues who have responded
magnificently to the dual challenges of changing their working
environment and embracing a substantial increase in workload which
has strengthened our position in the market and leaves us well
placed for long term growth. I would also like to thank investors
for their continued support in this turbulent climate."
Presentation slides that will accompany an investor update
following the AGM will be available on the Company's website later
today.
The Company intends to announce its interim financial results
for the six months to 30 September 2020 in early November 2020.
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
For further enquiries please contact:
+44 (0) 114 241
ZOO Digital Group plc 3700
Stuart Green - Chief Executive Officer
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Phillip Blundell - Chief Finance Officer
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Stifel Nicolaus Europe Limited +44 (0) 20 7710
Fred Walsh / Luisa Orsini Baroni 7600
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Alma PR
Josh Royston / Helena Bogle +44 (0) 7780 901979
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About ZOO Digital Group plc:
ZOO Digital is a provider of services allowing TV and movie
content to be subtitled and dubbed in any language and prepared for
sale with all major online retailers. ZOO's clients are some of the
best-known brands in the world including major Hollywood studios,
global broadcasters and independent distributors.
ZOO's point of difference in the marketplace is its development
and use of innovative cloud technology. This ensures that content
is localised in any language and delivered to all the major online
platforms such as Amazon, iTunes, Google and Hulu with reduced time
to market, higher quality and lower costs. ZOO's agile, cloud-based
business model enables clients to respond to market trends, scale
easily with business growth and capitalise on new routes to market
in the fast moving and evolving digital industry.
ZOO operates from the entertainment hubs of Los Angeles and
London with a development and production centre in Sheffield. Its
full-service proposition includes digital distribution, subtitling
& captioning, metadata creation & localisation, dubbing,
artwork localisation, workflow and asset management.
www.zoodigital.com
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END
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