LONDON (ShareCast) - (ShareCast News) - Subtitling and localisation firm Zoo Digital's shares tumbled as the company posted another loss.
Shares in the Sheffield-based company shed 3.18% to 6.54p by 0818 BST after the company posted an operating loss of $2.1m, unchanged from last year.

Zoo Digital increased revenue by 20% to $11.5m from $9.6m but said significant "disruption" from corporate activity in one of its largest customers had depressed trading during the second half of the year. First half revenues had been up 47% year on year.

The company said in a statement while it was impacted by continuing changes taking place in the video entertainment industry, it believed there was demand for localisation services.

"Our technology platforms provide us with the means to capitalise on this opportunity and deliver sustained growth and we remain cautiously optimistic about the Company's prospects," Zoo Digital said.

During the year the company had developed relationships with BBC Worldwide and Apple, which wanted Zoo to work on iTunes platforms.

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