MediaZest narrows loss as client demand improves across key sectors
MediaZest PLC on Friday said is targeting a return to pretax profitability in financial 2025 as it said trading in the new financial year has ‘started well’.
The Woking, England-based audio-visual technology company narrowed its pretax loss for the financial year ended September 30 to £211,000 from £553,000 the prior year.
Driving this improvement was a 32% increase in revenue to £3.1 million from £2.3 million. MediaZest credited the growth to the resumption of key client projects following macro-economic uncertainty which it said impacted decision making.
MediaZest said strong client demand for its audio-visual solutions returned across its three main areas of focus, retail, automotive and corporate office spaces. It also noted growth in longer-term recurring revenue contracts, with an annual run rate at the end of financial 2024 of £900,000, up from £700,000 the prior year.
Looking at its current financial year, MediaZest said its long term client base remains consistent, adding that it entered the new trading period with better visibility on further rollout programmes expected in 2025.
It noted that it has ‘several confirmed substantial projects in the new financial year.’
According to MediaZest, the new financial year has ‘started strong’ with the firm remaining confident on the outlook of the company. It is targeting further year-on-year growth and a return to pretax profitability in financial 2025.
Shares in MediaZest were down 3.6% on Friday afternoon in London.
Chief Executive Geoff Robertson commented: ‘We are delighted with MediaZest’s strong performance in the second half of the year, and the growing momentum we have brought into the new financial year. Our order book and overall forward visibility is encouraging and we look to continue this momentum throughout 2025.’
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