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Zoo Digital sees rise in FY profits, revenue
Subtitling and dubbing group ZOO Digital said it expected full year earnings before interest, tax, depreciation and amortisation to be "at least" $2.3m, up from 2016's $1.8m.
Full year revenue expected to be at least $28m compared with $16.5m a year earlier, Zoo said in a trading statement.
Localisation services (subtitling and dubbing) continue to grow strongly and are expected to represent in the region of 70% of overall revenue against 52% in 2016.
"Investment has continued in establishing the company's new dubbing service delivered through its proprietary cloud-based production platform and the board is greatly encouraged by the response to this from both existing and new clients," Zoo said.
The company said it had a gross cash position of $2.2m, compared to $0.7m at 30 September 2017 and had significantly reduced utilisation of its working capital borrowing facility such that it expects that its only material borrowings at 31 March 2018 will be its long-term convertible loan notes.