UK's Zoo Digital gains on upbeat outlook

Zoo Digital

13/05/2024 09:49

** Shares of Zoo Digital Group Plc  ZOO.L  rise as much as
12.4% to 61.8p
    ** Provider of cloud-based localisation and media services
to the global entertainment industry says revenues for first
quarter of FY25 expected to be 36% up on previous three-month
period
    ** ZOO says customer demand has continued to recover with
March invoicing the highest month since April last year
    ** Co says it is confident of at least meeting FY24 market
expectations
    ** Stifel analysts write in a note that Zoo's update is a
reassuring confirmation that business is returning to normal,
and good working capital management has resulted in a
better-than-expected cash position
    ** Stock at session high as of 0838 GMT, taking YTD losses
to ~5%

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))