News blog
ZOO Digital
- BY: Andrew Hore |
- POSTED: 10/04/2008 |
Digital media production services provider ZOO Digital expects “significant” growth in revenues this year.
It also hopes to achieve month-on-month profitability before the end of this financial year. This is thanks to new contract wins, including a 15 year contract with Walt Disney worth a total of $15m (£7.6m). The contract is for software automation products, including the recently launched Media Adaptation Tool.
Sony Pictures has licenced ZOO’s Templated Authoring System, which it will use on DVD titles.
Turnover more than doubled to £3.3m in 2007-08 but it still lost £1.4m before depreciation and exceptionals. The purchase of Scope Seven is helping ZOO get into the US DVD games market. Blu-Ray’s success in seeing off its rivals should provide opportunities for ZOO.
Former subsidiary ZOO Interactive Entertainment has appointed a liquidator. ZOO Digital will write-off deferred consideration of £175,000 and £40,000 of royalty payments due.
ZOO had cash of nearly £700,000 at the end of March 2008 and it believes that it will still be cash positive next March.
The shares rose 1.25p to 16.75p, valuing the company at £3m.
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