REG-MediaZest Plc: Trading Update

MediazestAnnouncement

20/10/2022 07:15

20 October 2022

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 financial year
ended 30 September 2022.

The operational business continued to trade well in the second half of the
year and the Company expects the full year financial results to show a
significant improvement on the prior year. Year end cash levels are consistent
with the end of the interim period ended 31 March 2022.

The Group is expecting to complete the year-end audit during December 2022 and
January 2023 and will announce its final results shortly thereafter.

Current Trading

Demand across key sectors including Retail, Automotive and Corporate Office
spaces continues to be encouraging with many long-term clients including Pets
at Home, Lululemon, Hyundai, Ted Baker and HMV progressing roll out programmes
and ongoing works.

Recent new installations, events and several upcoming opportunities within the
European Union have been consummated. Several were delivered during the
financial year ended 30 September 2022, including projects in Spain, the
Netherlands, France and Germany.

As referenced in the Interim Results to 31 March 2022, in order to deliver
solutions and services more efficiently to these clients, the Board has begun
the process of establishing an EU based subsidiary; this process is expected
to be completed in the current quarter (Q1 FY23).

Recurring revenue contracts continue to perform well and the Group has
continued to build on success in this area in recent years.

Outlook

The Board is pleased with recent progress as the Group bounced back from the
challenges of Covid-19, and is encouraged by the outlook for the short term.
Looking further ahead, the Board remains vigilant for signs of a slow-down in
client activity due to macro-economic uncertainty in the UK coupled with
global financial headwinds, and maintains flexibility in its cost base where
possible whilst balancing its ambitions for further growth.

Differentiating the Group’s offering by emphasising new revenue streams such
as data collection and analysis, alongside the high standards of project
delivery the business is known for, is considered to be  key to building upon
recent progress.

The Board continues to evaluate the potential for acquisitions to grow the
Group, should an appropriate opportunity arise. Management remains active in
this area whilst remaining committed to pursuing such a transaction only
should tha be sufficiently attractive to shareholders in the current
environment.

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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