MediaZest said it expects double-digit revenue and profit growth this year as the audio-visual technology company continues to convert a growing order book.
The AIM-listed group said summer trading was underpinned by ongoing installations for blue-chip clients including Pets at Home, Kia, Hyundai and Lululemon, and by its roll-out of digital currency display boards in UK post offices for First Rate Exchange Services, where it recently passed 1,000 screen installations on the way to around 1,500.
The company said its recurring revenue continued to grow, with new sites and contract renewals secured worth a minimum of £700,000 and up to £1.1m over terms of one to five years.
It added that it was keeping up repayments under renegotiated shareholder loans, strengthening its balance sheet, and was in talks over possible acquisitions to expand its offering.
Geoff Robertson, CEO of MediaZest, said: “It has been an exciting and busy Summer for MediaZest as we have continued to deliver for our existing customers and have also added a number of new recurring contracts.”
“I am delighted to report that we hit the 1,000 screen installation milestone for First Rate Exchange Services, one of the largest ever installations for MediaZest by volume. We are in discussions with several potential clients which are expected to reach successful conclusion in H1 FY27 and I look forward to providing shareholders with further updates in the coming weeks.”
Today’s update builds on a string of positive developments for the company over the past 12 months, but unfortunately the share price hasn’t reacted accordingly.