REG-MediaZest Plc: Trading Update

MediazestAnnouncement

21/12/2021 07:05

21 December 2021

MediaZest Plc
("MediaZest", the "Company” or the “Group”; AIM: MDZ)

 Trading Update
 

MediaZest (AIM: MDZ), the audio-visual solutions provider, is pleased to
provide an update on current trading and performance during the second half of
the financial year ended 30 September 2021.

As expected and previously noted, the second half of the year showed notable
improvement in the Company’s financial performance as demand for new
projects increased in conjunction with the lifting of Covid related
restrictions which had been in place during the Group’s financial H1, being
the six months ended 31 March 2021. As a consequence, cash in hand at the
period end also showed improvement upon the prior year and the half year
interim results.

The Group’s year end audit is now underway and this will continue throughout
January 2022. The Group expects to announce its annual financial results
shortly thereafter.

Current Trading

The Group’s operating subsidiary, MediaZest International Limited
(“MediaZest International”), continues to experience strong demand across
key sectors including Retail, Automotive and Corporate Office spaces in the
new financial year ending 30 September 2022.

The long-term strategic focus on large scale roll out opportunities that have
the potential to run for several years, and on recurring revenue streams
across multi-year deals continues to deliver improving results. The Directors
believe the Group is well set heading into 2022, although the Board remains
mindful of the risk of potential future disruption in light of the continually
evolving Covid pandemic.

Key project highlights in recent months include a new Innovation Centre for
leading supply chain and logistics provider Wincanton, the new Rockar Jaguar
Land Rover dealership in London’s Canary Wharf coupled with several new
stores for each of long-term clients Pets at Home, HMV, Post Office and
Lululemon.

Future Strategy

The Board believes the anticipated improvement in financial results and the
foundations in place with several existing long-term clients provide the Group
with a platform from which to grow both organically and by acquisition in
2022.

As such the Board has recently engaged with several potential acquisition
targets, in the same market as MediaZest International, with a view to
possible business combinations. Whilst these discussions have been positive to
date, there can be no guarantees that they will lead to a value accretive
transaction or transactions for MediaZest.

In the interim, focus continues to be placed on adding more long-term clients
with recurring revenue opportunities to further the successful work of recent
years and build a bigger platform for that growth.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 Enquiries:                                                                               
 Geoff Robertson Chief Executive Officer MediaZest Plc                     0845 207 9378  
 David Hignell/Adam Cowl Nominated Adviser SP Angel Corporate Finance LLP  020 3470 0470  
 Claire Noyce Broker Hybridan LLP                                          020 3764 2341  
                                                                                          

Notes to Editors:

About MediaZest

MediaZest is a creative audio-visual systems integrator that specialises in
providing innovative marketing solutions to leading retailers, brand owners
and corporations, but also works in the public sector in both the NHS and
Education markets. The Group supplies an integrated service from content
creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange's AIM market
in February 2005. For more information, please visit www.mediazest.com



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