ZOO Digital Group receives dubbing and subtitling orders from major film and TV distributor

In a statement, ZOO said: “Further to the trading statement of March 26 2024, the company has since renewed for a further 12 months debt facilities of up to $3m with HSBC. These facilities remain fully undrawn but provide the company with enhanced financial flexibility for working capital purposes in an improving market environment.”

Work has continued to expand throughout March and April 2024 and visibility extends to September 2024, ZOO said.

The statement added: “Revenues for FY25 Q1 (the first quarter of the financial year) are expected to be 36 per cent up on FY24 Q4 which, together with recently implemented cost savings, is expected to result in EBITDA (earnings before interest taxation depreciation and amortisation) at break-even in Q1.”

The company has also received dubbing and subtitling orders from a major film and TV distributor.

The statement added: “ZOO’s strategy remains focused on developing and deploying innovative technology to provide leading and differentiated end-to-end services to its customers.

“With market commentators forecasting a return to 2022 levels of entertainment output in 2025, the board continues to see opportunities to rebuild revenues following the significant industry disruptions of FY24 and is confident of at least meeting FY24 market expectations.”