StockMarketWire.com - Audio-visual services provider MediaZest swung to a small annual profit, though it experienced a more difficult second half.

Pre-tax profit for the year through March amounted to £6k, compared to a loss of £256k on-year.

Revenue rose 17% to £3.3m as the company provided services to clients including HP, Lululemon Athletica, Ford, Ted Baker and Diesel.

'The first six months of the financial year 2019 were particularly pleasing as activity in the retail sector provided opportunities for growth and new client acquisition,' chairman Lance O'Neill said.

'The second half of the financial year, however, was markedly more difficult.'

'This was due, in part, to the deterioration in macroeconomic trading conditions that has been evident since November 2018 as a consequence, initially, of uncertainty surrounding Brexit and then latterly, an overall slowdown in the sector as a whole.'

'In light of these circumstances, the achievement in reaching profitability this year has been particularly encouraging although the board recognises that there is much work still to be done.'


At 1:14pm: [LON:MDZ] MediaZest PLC share price was +0.01p at 0.08p



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