Revenues up 47 pc at subtitling specialist Zoo Digital

Stuart Green, chief executive of Zoo Digital
Stuart Green, chief executive of Zoo Digital
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Zoo Digital saw revenues surge 47 per cent in the six months to September, as demand for its cloud-based subtitling service rises.

The Sheffield-based subtitling and captioning specialist saw sales climb to $6.9m(£4.4m) in the first half of the year, up from $4.7m in 2013.

Much of its progress was driven by ZOOsubs, a cloud-based subtitling and management production system.

Zoo’s interim statement reflected a healthier financial position, with cash flow from operations $834,000, compared to -$364,00 last year.

Profit before interest, tax, depreciation and amortisation for the period was $399,000, up slightly from $290,000 in 2013.

Stuart Green, chief executive at Zoo Digital, said the firm’s “positive momentum” from last year continued through H1.

He said: “While we continue to monitor closely the changing dynamics within the entertainment industry, the growing base of repeatable revenues combined with a pipeline of new clients and projects, with a balance sheet strengthened after the period end, gives the board good grounds for optimism in the future prospects of the business.”

In November, Zoo announced it had raised more than $1.3m via a convertible loan note with Herald Investment Trust.

Zoo recorded a $0.4m loss in 2014, compared to a $0.7m profit in 2013. Its full year results highlighted client growth and diversification, with five out of the six major Hollywood studios using their products.