REG-MediaZest Plc: Trading Update

MediazestAnnouncement

19/10/2023 07:15

19 October 2023

MediaZest Plc

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

 Trading Update

MediaZest (AIM: MDZ), the audio-visual solutions provider, is pleased to
provide the following trading update.

Progress in the second half of the financial year ending 30 September 2023
(“FY23”) continued as expected, with trading results at the Group’s
subsidiary, MediaZest International Limited, showing improvement on the first
half of FY23.

The Group’s top line revenue grew compared to the previous six months, while
operational costs remained consistent.  Substantial projects for long
standing clients were completed in the period, including for UK retail clients
such as Pets at Home, Hyundai and HMV, European-wide retail clients including
Lululemon and Education sector customers, including University College
Birmingham.

Several new business wins have been achieved in recent weeks, for all of the
clients noted above as well as new customers, as the Company continues to add
to the client base as digital signage deployments become more widespread. The
majority of these projects will be deployed in the new financial year and, as
such, the first half of the financial year ended 30 September 2024
(“FY24”) is expected to start strongly.

The Board continues to pursue options to add scale to the Group. As a result,
some additional one-off costs associated with ongoing efforts to acquire
businesses and expand the Group were incurred during the second half of FY23.
These costs offset the improvement in operational results at a Group level,
however the Board considers this an important element of MediaZest’s ongoing
strategy, in conjunction with organic growth.

European Subsidiary

The Group’s European trading subsidiary began to deploy large scale projects
in the final quarter of FY23. This included work across several European
countries for Lululemon and for a large motor manufacturer in their dealership
network. Subsequently, a new territory for the automotive client has already
been added, with deployments beginning in October 2023.

This segment of the Group shows encouraging signs for FY24, with additional
projects being pitched to existing clients, and new business opportunities
arising.

Outlook

The outlook at the start of FY24 is encouraging and new business opportunities
are both significant and numerous. The Board, however, remains mindful of the
macro-economic environment and associated challenges which may arise, so
continues to keep a tight control on costs, whilst acknowledging the
importance of finding and undertaking due diligence on appropriate acquisition
targets. The Board is particularly encouraged by the strong start the European
subsidiary has made and is delighted with the successful implementation of
this part of the Group’s strategy.

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

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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