ZOO Digital (LON: ZOO), a world-leading provider of digital media production services has posted a bumped 64% increase in revenue for the six months ended 30th September 2021.
The rise in revenue was driven by demand fro their subtitling and media services. The jump in revenue helped EDITDA rise 82% to $2.4 million.
Zoo Digital shares spiked as high as 135.7p in the first hour of trading in Wednesday before falling back.
Zoo Digital said they had good visibility on sales through H2 and had a strong pipeline from ‘satisfied customers’.
“Structural tailwinds and our end-to-end services powered by our proprietary systems have fuelled very strong revenue growth while back catalogue work surged as streaming globalises. More recently new production work returned and reached pre-pandemic levels in August,” said Stuart Green, CEO of ZOO Digital.
“We are building on our international capability through partnering and investing in regions of the world where the strongest growth is anticipated. The launch of ZOO Turkey has already strengthened our MENA operations and discussions are underway in further territories to ensure that we are best placed to enhance our offer and grow market share.
“This is our time. We are but one of a handful of players that can meet client needs through our market leading approach. We are confident of strong growth for the foreseeable future. We are currently building increased capacity to accelerate sales and making great strides toward our medium term target of $100 million.”