Zoo Digital benefits from cloud-based offering amid Covid-19 pandemic
By Iain Gilbert
Date: Tuesday 26 Jan 2021
(Sharecast News) - Localisation services provider Zoo Digital said on Tuesday that it had continued to see the benefits of its cloud-based offering and ability to undertake projects remotely amid the ongoing Covid-19 pandemic.
While Zoo Digital acknowledged that new productions had been on hold due to the Covid-19 pandemic, it also stated it had continued to witness increased workflow from preparing back catalogue titles for digital distribution globally, although it did caution that the volume of this work was not expected to continue at such high levels once new production returns to normal.
As a result, the AIM-listed group said revenues for the full-year were now expected to be at least $38.0m, up from $29.8m a year earlier, marking an acceleration of growth in the second half of 35% over the first half and leading it to expect results for the year ahead of market expectations.
Chief executive Stuart Green said: "Zoo Digital has traded very strongly and is pioneering and innovating the services it provides to the global entertainment industry.
"Our technology-first, cloud-based approach has positioned the Group very well to meet market requirements during and subsequent to the pandemic, despite the disruption caused to new production."
As of 1045 GMT, Zoo shares were up 5.07% at 96.45p.
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