Media production and technology company ZOO Digital Group PLC (AIM: ZOO) expects full-year results to be in line with management expectations, with revenue having doubled to around £6.6 million.
In a trading update for the period to end-March 2009, it forecast a pretax profit of around £0.2 million after an exceptional right-off of intangible assets of £0.4 million compared to a loss of £2.1 million in the previous full year.
Cash position at year-end was approximately £989,000, compared to £675,000 at March 31 2008.
The focus on ZOO’s principal customers, the major film studios, has continued to prove successful and significant progress has been made in increasing the number of business units using ZOO's products and services.
Significant progress has been achieved over the last 12 months and as ZOO's products become more widely adopted and demand for production services increases, visibility of forward production volumes for the coming year is improving. Despite the difficulties in the current climate the board is confident of continued progress, the company added.
ZOO services major content providers like film studios, television networks and corporate clients who publish and market media for global distribution.
ZOO is focused on the worldwide creative media production markets and in particular video and print production for entertainment, games and education applications, with customers including major Hollywood studios and other producers and publishers of video-based consumer products.