Zoo achieves £8m targets despite major disruption
CAPTIONING and subtitling business Zoo Digital has bounced back from the loss of a major customer, with chief executive Stuart Green saying he was optimistic about the “profound” changes in the market.
The Sheffield-based company had been affected by a restructure at one of their biggest customers, whose orders accounted for 24% of the business during the year to March 2015.
They have managed to keep results in line with expectations, reporting revenues of £7.95m ($11.6m) for the year to 31 March 2016, up from £7.88m the year before.
The company also narrowed its losses from £2.12m in the year to March 2015, to £1.5m this year.
Stuart Green, CEO of ZOO Digital, said: “The changes due to new consumer technologies and internet-delivered services that have disrupted the entertainment supply chain in the last five years have been profound.
“To meet the new challenges of the industry requires high quality entertainment products to be created for more languages, on more digital platforms and more quickly than ever before. These factors combine to create a significant opportunity for ZOO.
“We have entered our 2017 year with a stronger pipeline, a broader range of services and a greater sales capability. The board is optimistic about the Company’s potential for growth.”
