StockMarketWire.com - Creative audio-visual company MediaZest said it swung to a small first-half profit as growth in recurring revenue helped boost margins.

Net profit for the six months through September was £90k, compared to a loss of £149k on-year.

Revenue rose 36% to £1.8m, while gross margins improved to 51%, from 48%.

'As highlighted in previous statements, the group is having considerable success with overseas deployments, primarily in Europe, but also on a global basis,' MediaZest said.

'Clients such as HP, Ted Baker, Nokia, Lululemon and Opel have all engaged the group's services outside of the UK in the six month period, representing approximately 30% of gross profit.'

'The group continues to target these opportunities, particularly during a time when the domestic UK retail market is under pressure, leading to uncertainty, which can result in the postponement of or delay in retail investment from some UK participants.'

'Notwithstanding, the group is developing, currently, several roll out / substantial deployment opportunities which would enable the company to show further progress both in the current and future reporting periods.'




At 8:13am: [LON:MDZ] MediaZest PLC share price was +0.02p at 0.11p



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