# Zoo Digital Group Continued Strong Growth

- Link: https://www.directorstalkinterviews.com/zoo-digital-group-continued-strong-growth/412749788
- Published: 2018-04-23T07:31:32+01:00
- Author: Giles Arbor

**ZOO Digital Group plc** (LON:ZOO), the provider of localisation and digital distribution
services for the global entertainment industry, is pleased to provide an update 
on trading for the year ended 31 March 2018.

As previously indicated, the growth experienced in the business continued through
the second half of the financial year. The Group expects to report full year revenue
of at least $28.0m (31 March 2017: $16.5m), leading to Adjusted EBITDA* of at least
$2.3m (31 March 2017: $1.8m). Gross cash as at 31 March was $2.4m (30 September 
2017: $0.7m), with no other material borrowings other than its long-term convertible
loan notes. Localisation services (being subtitling and dubbing) have continued 
to be the main driver of this growth and will represent in the region of 74% of 
overall revenue (31 March 2017: 52%).

The demand for localisation services continues to grow and, in order to satisfy 
this demand, ZOO has been steadily increasing the number of quality voice actors
and dubbing professionals with whom it engages. Pleasingly, the Group’s growing 
reputation in the market is helping to engage with these professionals, enabling
services to be fulfilled across a growing number of languages.

The Group was also encouraged by the level of industry feedback and acclaim that
ZOOdubs and the associated dubbing service achieved at the NAB show in Las Vegas,
held between 7 – 12 April 2018. The level of interaction with senior individuals
from major players within the industry and the resulting enquiries underlines the
confidence that the Board has in the Group’s long-term opportunity, particularly
in respect of its localisation services.

Given the importance of localisation services, the Group intends to re-classify 
the costs of the internal staff responsible for fulfilling client projects as a 
cost of sale rather than as a central overhead as previously, for the purpose of
reporting its final results and on an ongoing basis. The Board believes that this
will be more representative of the Group’s trading and will have no effect on the
reporting of its overall profitability.

ZOO expects to publish its full year results in the week commencing 2 July 2018.

The Company notes that the process for appointing a new Chief Finance Officer is
ongoing.

> **Stuart Green, Chief Executive of ZOO Digital Group Plc, commented:** “We are
> pleased to confirm guidance for the full year results. We continue to see momentum
> in the business, driven by our localisation services, and remain optimistic for
> the future.”

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