REG-MediaZest Plc: Trading Update

MediazestAnnouncement

13/05/2024 07:15

13 May 2024


MediaZest Plc

(“MediaZest”, the “Company”, or the “Group”)

Trading Update

Positive H1 performance confirmed

Strong momentum continues into H2 with further contract wins

MediaZest plc (AIM: MDZ), the creative audio-visual solutions provider,
provides an update to shareholders on a positive trading performance for the
six months ended 31 March 2024, and continued strong trading momentum going
into the second half of the financial year ended 30 September 2024.

Trading for the six months ended 31 March 2024 has been encouraging. In line
with the positive outlook confirmed in the Company’s Full Year Results
(https://www.londonstockexchange.com/news-article/MDZ/results-for-the-year-ended-30-september-2023/16361425)
(announced on 5 March 2024), and the update provided in the recent AGM
statement
(https://www.londonstockexchange.com/news-article/MDZ/agm-statement/16399243)
(announced on 28 March 2024), long term project roll outs with key customers
have contributed to an improved first half performance. First half revenues
will show a return to year-on-year growth and the Company expects to deliver
an improved EBITDA performance for H1 2024 compared to H1 2023. MediaZest
expects to issue its Half-year Report in the last week of June 2024.

The Company also announces a strong start to the second half of the financial
year with a series of new orders in recent weeks from a wide range of
customers, including well-known brands that MediaZest has engaged with before
such as Lululemon, Pets at Home, Arc’teryx, Kuoni, Harrods, Britvic, and
Castore. The Company continues to see a notable increase in demand for
audio-visual technology, in the Retail, Automotive and Corporate Office space
environments in which MediaZest works.

New orders represent in aggregate additional revenues in excess of £350,000
relating to project work. These projects will also attract further revenues in
the form of related ongoing support and maintenance revenues which will
further contribute to the Company’s growing annual run rate for recurring
revenues.

As well as projects across the UK, new business wins also include
installations in the Netherlands, Germany and France, several of which are
expected to be delivered in June 2024 and the pipeline of potential new
project work in Europe continues to expand.

In addition to delivering new projects with existing clients, the Group is in
advanced discussions with a number of well-known UK or Europe-wide brands
which would represent new clients to MediaZest and a considerable opportunity
for future growth. The Company has already confirmed proof of concept tests
for two major brands in the UK and expects to conclude a multiple installation
agreement across a number of sites in Europe ahead of the summer.

Geoff Robertson, Group Chief Executive, commented: “In addition to the new
business wins already achieved this year, we are currently in final
negotiations on a number of projects which, if successful, will lead to
significant contract confirmations before the year end. We continue to grow
recurring revenue streams and add new clients to our roster, and remain
positive about the Group’s future potential. We have bolstered our sales and
marketing team internally as we build value in the business for the coming
years.”

For further information please contact:    

 MediaZest Plc                                                          www.mediazest.com                                                     
 Geoff Robertson, Chief Executive Officer                               via Walbrook PR                                                       
                                                                                                                                              
 SP Angel Corporate Finance LLP (Nomad)                                 Tel: +44 (0)20 3470 0470                                              
 David Hignell/Adam Cowl                                                                                                                      
                                                                                                                                              
 Hybridan LLP (Corporate Broker)                                        Tel: +44 (0)20 3764 2341                                              
 Claire Noyce                                                                                                                                 
                                                                                                                                              
 Walbrook PR (Media & Investor Relations)  Tel: +44 (0)20 7933 8780 or mediazest@walbrookpr.com                                               
 Paul McManus / Charlotte Edgar / Alice Woodings                        Mob: +44 (0)7980 541 893 / +44 (0)7884 664 686 / +44 (0)7407 804 654  
                                                                                                                                              

About MediaZest (www.mediazest.com)

MediaZest is a creative audio-visual systems integrator that specialises in
providing innovative marketing solutions to leading retailers, brand owners
and corporations, but also works in the public sector in both the NHS and
Education markets. The Group supplies an integrated service from content
creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange's AIM market
in February 2005.



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