Zoo Digital expects to post "significant" increase in earnings

Zoo Digital has said it expects to post a "significant" increase in earnings for the first half of the year.

Zoo Digital's Stuart Green.

The Sheffield-based transcription and subtitling firm said that he expected revenues for the period to be slightly ahead of guidance, with EBITDA even higher.

The remarks came from the firm's chair Gillian Wilmot ahead of the company's Annual General Meeting, scheduled for later today.

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She added that plans for strategic international hubs were progressing and that the business would announce further details shortly.

Ms Wilmot said: "We continue to see strong momentum in the business as we deliver ongoing support to our customers for further territory launches of streaming services and migration of their catalogue titles. We anticipate revenues for H1 will be slightly ahead of guidance and we expect to deliver a significant increase in EBITDA compared to the FY21 comparator period benefitting from significant revenue growth and operational gearing.

"In the past month we have seen a significant expansion of orders for localisation and media services relating to new original titles following the resumption of productions. This gives us much improved visibility through H2 and confidence to continue with our growth plans.

"We have progressed negotiations to establish regional hubs in strategic international locations, significantly strengthening our global offering. We expect the first of these to be announced shortly."

She added that a strong pipeline of work was in place for the business.