City briefs: Zoo Digital and SIG
ZOO Digital Group, a provider of cloud-based localisation and media services to the global entertainment industry, has launched facilities in Madrid and Valencia.
It follows a strategic investment in established dubbing and localisation company, AM Group.
Sheffield-headquartered ZOO has acquired a 30% stake in AM Group for 825,000 euros/£727,000 to be payable in cash on completion.
AM Group will act as a primary hub for ZOO’s operations in Spain and Portugal. It will deliver dubbing services as part of ZOO’s global end-to-end offering for major studios and streaming services in Iberia, while also supporting local content creators to expand their reach to global audiences.
AM Group generated 352,000 euros/£286,000 in pre-tax profits for the year ended 31 December 2022. It has state-of-the-art facilities in both Madrid and Valencia, complete with nine recording studios, nine control rooms and two mixing rooms.
Facilities also incorporate an adjoining dubbing school which provides practical training for voice talent, with courses in dubbing, voiceover and vocal technique.
Stuart Green, CEO of ZOO, said: “This latest investment under our global growth initiative will allow us to offer increased capacity and expertise in Spain and Portugal, both of which are territories that hold high strategic importance for our major studio clients.
“The launch of ZOO in Madrid and Valencia strengthens our ability to deliver high-quality services at a time of significant growth in the region while also enabling us to cater for regional languages and cultures.”
Teresa Alonso, territory advisor (Spain and Portugal) at ZOO Digital, added: “As international demand for Spanish- and Portuguese-language content continues to grow, we are dedicated to sharing Iberian stories with local authenticity on a global scale.
“AM Group shares our commitment to delivering this cultural authenticity and representing the linguistic diversity of the region.
“We look forward to collaborating closely with their teams to develop and refine our in-territory dubbing service capabilities.”
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SIG, which supplies specialist insulation and building products across Europe, has reported group like-for-like sales growth of 1% – with revenues of £924m – in a trading update for 1 January to 30 April 2023.
It says the results reflect tough market conditions, which have been more than offset by input price inflation, with solid sales growth from France, Germany, and UK Interiors.
The Sheffield-headquartered group adds the overall impact of inflation is estimated to have added about 11% to its growth over the period.
Its update notes: “As expected, price inflation has moderated since H2 2022, despite further price increases in early 2023, as we annualise some of the significant prior year price increases.
“Our outlook for FY23 remains unchanged. We expect weaker and uncertain demand conditions to prevail during 2023, offset by a continued tailwind from input price inflation, albeit the latter will continue to moderate further this year.
“We remain confident in our ability to harness the strong momentum in the business and further improve our market positions, and to continue to improve our profitability when market conditions recover.
“As a European market leader in the supply of specialist insulation, and with 80% of the Group’s sales covering insulation and the wider building envelope, we are well-positioned to benefit from long-term structural growth drivers, notably sustainable construction and decarbonisation of buildings.”
