Brief: Mediazest PLC Sees Modest HY Loss After Tax

Mediazest

03/04/2020 07:41

April 3 (Reuters) - Mediazest PLC  MDZE.L :
    * IN PERIOD FROM OCTOBER 2019 TO JANUARY 2020, BUSINESS
PERFORMED
WELL
    * RESULTS FOR FEBRUARY AND PARTICULARLY MARCH 2020 HAVE BEEN
MATERIALLY ADVERSELY IMPACTED BY COVID-19 OUTBREAK,
    * ALL DEPLOYMENTS AND INSTALLATIONS IN PROGRESS ARE
CURRENTLY ON
HOLD UNTIL FURTHER NOTICE
    * "LOCKDOWN" AFFECTED KEY PROJECTS ACROSS UK AND IN MILAN,
COPENHAGEN AND BERLIN, ALL OF WHICH ARE NOW EXPECTED TO COMPLETE
LATER IN 2020.
    * BOARD EXPECTS REVENUE FOR FEB AND MARCH TO BE LOWER THAN
FORECAST AND REDUCED TO APPROXIMATELY £300,000 IN AGGREGATE
    * GROUP NOW EXPECTS TO REALISE HY MODEST LOSS AFTER TAX (6
MONTHS
ENDED 31 MARCH 2019 LOSS OF £201,000)
    * COVID-19 WILL AFFECT FORTHCOMING TRADING AND FINANCIAL
PERFORMANCE
    * WORKING ON ASSUMPTION THAT "LOCKDOWN" PERIOD AND ONGOING
DISRUPTION CAUSED BY COVID-19 WILL HAVE AN IMPACT FOR A MINIMUM
OF SIX MONTHS
    * AGREED TO EXTEND CURRENT ACCOUNTING PERIOD TO 30 SEPTEMBER
2020
IN ORDER TO DEFER AUDIT COSTS UNTIL LATER IN YEAR

Source text for Eikon:  ID:nPRr34028a 
Further company coverage:  MDZE.L 

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