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MediaZest

  • BY: Andrew Hore |
  • POSTED: 25/03/2019 |

Audio visual services provider MediaZest says full year results will be below market expectations because clients are delaying projects. 

Second half trading was not as good as the first half and there will be a small full year loss. Annualised cost reductions of £200,000 will come into force from March.

A bad debt provision of £16,000 has been made against money owed by HMV when it went into administration.

The group will make revenues of more than £3m in the year to March 2019. Annualised recurring revenues are around £700,000.

New projects are being won this year and two have already begun. The total combines revenues of four project wins is more than £500,000, most of which should be recognised this year.

A placing in February raised £110,000 at 0.1p a share. 

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