MediaZest secures £0.5m in new business
By Josh White
Date: Tuesday 17 Sep 2024
(Sharecast News) - MediaZest announced on Tuesday that it had secured more than £0.5m in new business over the last two months.
The AIM-traded firm put the growth down to existing key customers expanding their digital signage installations across multiple sites, as well as new projects from new clients.
While orders continued steadily in August - largely driven by one of the company's car manufacturing clients - over 80% of the £0.5m total was booked in the first half of September.
Some of the orders were slated for delivery in the fourth quarter of the 2024 financial year, while others would be realised in 2025.
The board said the new business encompassed a range of ongoing digital signage programmes with long-term clients and initiatives for new customers.
Although many projects were primarily UK-based, MediaZest said it continued to generate significant revenue from installations through partnerships globally.
As a result of the additional orders, MediaZest said it remained on track to achieve year-on-year organic revenue growth.
The company said it was targeting a return to profitability, supported by the recent uptick in orders and sustained demand for its services.
"We are delighted to report continued momentum over recent months," said chief executive officer Geoff Robertson.
"September has seen a surge in activity from our existing clients keen to roll out our digital signage more widely."
Robertson said MediaZest had built "solid relationships" with its high-profile client base, adding that the success of the current digital signage delivery was generating more projects.
"The continuation of orders is encouraging and underpins our confidence in our solid revenue growth for the financial year."
At 1247 BST, shares in MediaZest were up 7.47% at 0.08p.
Reporting by Josh White for Sharecast.com.
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