Revenues up 64% at entertainment industry software company
ZOO Digital Group, which offers cloud-based localisation and digital media services to the global entertainment industry, has recorded strong growth driven by its subtitling and media provision.
Publishing its unaudited financial results for the six months ended 30 September 2021, the listed Sheffield-headquartered business saw its revenues increase by 64% to $26.9m/£19.8m (H1 FY21: $16.4m/£12m).
Gross profit increased by 68% to $8.6m/£6.3m (H1 FY21: $5.1/£3.8m).
And adjusted EBITDA was up 82% to $2.4m/£1.8m (H1 FY21: $1.3/£960,000) which Zoo says reflects its strong revenue growth and operational gearing.
The company reports a strong order book across all service lines with good visibility for half two and a pipeline of work from established, satisfied customers
It says its new mastering initiative and international expansion provides the business with two additional revenue streams.
Stuart Green, CEO, said: “Structural tailwinds and our end-to-end services powered by our proprietary systems have fuelled very strong revenue growth while back catalogue work surged as streaming globalises. More recently new production work returned and reached pre-pandemic levels in August.
“We are building on our international capability through partnering and investing in regions of the world where the strongest growth is anticipated.
“The launch of ZOO Turkey has already strengthened our MENA operations and discussions are underway in further territories to ensure that we are best placed to enhance our offer and grow market share.
“This is our time. We are but one of a handful of players that can meet client needs through our market leading approach.
“We are confident of strong growth for the foreseeable future. We are currently building increased capacity to accelerate sales and making great strides toward our medium term target of $100m.”
