MediaZest Plc Trading Update

 
TIDMMDZ 
 
12 November 2020 
 
                                 MediaZest Plc 
 
             ("MediaZest", the "Company" or the "Group"; AIM: MDZ) 
 
                                 Trading Update 
 
MediaZest (AIM: MDZ), the creative audio-visual company, hereby provides 
shareholders with an update on current trading and the impact of the second UK 
"lockdown" as a result of the Covid-19 Pandemic. 
 
Post the initial UK "lockdown", trading has continued to be encouraging. 
Although client work continues at a slower pace than in the run up to March 
2020, new projects are being pitched for on a regular basis, and several 
mandates have been won in recent weeks. Ongoing contractual income remains 
robust and the renewal rate of such recurring revenue streams has been strong. 
 
The differing terms of the second "lockdown" mean that many projects continue 
to be delivered, with additional safety and social distancing measures. In 
light of this the Board does not expect the impact of this second lockdown to 
be as negative as the first, although it will may have an adverse effect on 
trading. The Group will also continue to use Government support schemes as 
appropriate where work cannot continue, and cost reduction measures remain in 
place where possible to mitigate the impact of such restrictions. 
 
Ongoing roll out projects have restarted and are continuing during November and 
beyond. Supplemental to this steady flow of work, both existing and potential 
new clients are beginning to look at new longer-term programmes and the Company 
is currently pitching for several of these which if won, will fall in 2021 and 
beyond. 
 
MediaZest's strategy continues to be to grow the recurring revenue streams and 
regular project workflows to generate consistent Group profitability, with 
tight cost control during this difficult period. Those regular incomes are 
supplemented with larger scale projects which can add significant growth to the 
Company. 
 
As previously announced, the Group extended its most recent accounting year to 
become an 18-month period to 30 September 2020. The financial results for this 
period, including adoption of the new IFRS 16 and recognition of the successful 
placement of new Convertible Loan Notes in August 2020 and the associated 
additional liquidity, are currently being prepared. The Board expects to 
provide some guidance on these results before the end of 2020, with the release 
of full audited accounts and details of the next MediaZest AGM in early 2021. 
 
Geoff Robertson, MediaZest's CEO said: "We are encouraged by the robustness of 
project work at this current time given the circumstances, but remain mindful 
of the challenges ahead. We believe that in the medium term the core markets in 
which the Company operates (Retail, Automotive and Corporate) will all show 
accelerated adoption of digital signage and audio-visual solutions as a 
by-product of the pandemic. We look forward to providing shareholders with a 
further update before the end of the calendar year." 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) 596/2014. 
 
Enquiries: 
 
Geoff Robertson                                      0845 207 9378 
Chief Executive Officer 
MediaZest Plc 
 
David Hignell/Adam Cowl                              020 3470 0470 
Nominated Adviser 
SP Angel Corporate Finance LLP 
 
Claire Noyce                                         020 3764 2341 
Broker 
Hybridan LLP 
 
 
Notes to Editors: 
 
About MediaZest 
 
MediaZest is a creative 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 
 
 
 
END 
 

(END) Dow Jones Newswires

November 12, 2020 02:00 ET (07:00 GMT)