Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
MediaZest reports improvement in first-half revenue, losses
(Sharecast News) - Creative audio-visual specialist MediaZest reported a significant improvement in both revenue and its losses in its first-half results on Friday. The AIM-traded company reported a revenue increase to £1.173m for the six months ended 31 March. from £1.054m year earlier, with gross profit rising to £0.7m from £0.6m.
Its gross margin also improved, to 60% from 57%.
The EBITDA loss narrowed to £0.03m, a notable improvement from the £0.15m loss in the first six months of the 2023 financial year.
MediaZest said its loss after tax decreased to £0.14m from £0.26m, with a corresponding reduction in losses per share to 0.009p from 0.02p.
The company's cash position also saw a slight increase to £14,000 from £10,000.
Operational highlights for the period included successful long-term project rollouts with key customers such as Hyundai and Pets at Home, consistent recurring revenue streams, and completion of projects for Lululemon Athletica across Europe.
Additionally, MediaZest delivered its first LED video wall for Arc'Teryx in Covent Garden.
Looking ahead, MediaZest said it had started the second half of the 2024 financial period strongly, securing new orders from several well-known brands and expanding its project pipeline in Europe, including installations in the Netherlands, Germany, and France.
The company also announced a follow-on contract to supply digital signage for a global automotive client in the EU.
With strong long-term demand for audio-visual technology in the retail, automotive and corporate office sectors, MediaZest said it was aiming to build on its first-half progress, targeting a return to profitability for the full financial year ending 30 September.
The company said it was also evaluating potential 'buy-and-build' acquisitions to further enhance growth.
"With an improvement in the first half results compared to 2023 and a strong start to the second half, we remain confident that this momentum will continue and result in an improved overall performance for the year," said group chief executive officer Geoff Robertson.
"We were delighted to announce a follow-on contract with a large global automotive client last month, which will provide additional revenues of around €0.15m in the short to medium term and which will contribute to recurring revenue streams.
"Our project pipeline continues to grow and we expect further contract confirmations before the financial year end."
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.