3 March 2017
MediaZest Plc
("MediaZest"or the "Company”; AIM: MDZ)
New Business Update
MediaZest, the creative digital audio visual company, is pleased to update shareholders on recent business wins.
Since the start of 2017, the Group has already confirmed business wins in the retail sector alone that relate to projects that will generate approximately £500,000 of new revenue. These projects include the ongoing roll out of business from existing clients and a substantial new project for a UK high street bank. All are due for completion by 30 June 2017.
These new business wins include a large proportion of UK based work but also installations as far afield as the United States and Australia.
In addition, the Group continues to grow its recurring revenue base, which has underpinned recent improved results. At present, run rate recurring revenues total approximately £400,000 per annum and management expect these to grow by at least 15% during the next quarter.
Geoff Robertson, CEO, commented: “More and more companies within the retail sector are looking to change the way they do business in the multichannel world in which we now live and shop, and our expertise in enabling them to do that is proving a strong draw for clients.
The work we have done to develop business partnerships outside of the UK is enabling us to undertake projects on a worldwide basis. This represents a significant ongoing opportunity for the Company, as clients increasingly look to establish a durable relationship with one supplier who can deliver solutions to all their retail stores to the very highest standards.
The improvement in recurring revenues and hence quality of revenue for the business has been instrumental in moving the business forward financially. Further progress in this area continues to be a major strategic focus.”
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Geoff Robertson
Chief Executive Officer
MediaZest Plc |
0845 207 9378 |
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Edward Hutton / David Hignell
Nominated Adviser
Northland Capital Partners Limited |
020 3861 6625 |
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Claire Noyce / William Lynne / Niall Pearson
Broker
Hybridan LLP |
020 3764 2341/ 2342/ 2343 |
Notes to Editors:
About MediaZest
MediaZest is a creative media agency and 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. For more information, please visit www.mediazest.com
