MediaZest Plc New Business Update
March 03 2017 - 2:00AM
UK Regulatory
TIDMMDZ
3 March 2017
MediaZest Plc
("MediaZest"or the "Company"; AIM: MDZ)
New Business Update
MediaZest, the creative digital audio visual company, is pleased to update
shareholders on recent business wins.
Since the start of 2017, the Group has already confirmed business wins in the
retail sector alone that relate to projects that will generate approximately GBP
500,000 of new revenue. These projects include the ongoing roll out of business
from existing clients and a substantial new project for a UK high street bank.
All are due for completion by 30 June 2017.
These new business wins include a large proportion of UK based work but also
installations as far afield as the United States and Australia.
In addition, the Group continues to grow its recurring revenue base, which has
underpinned recent improved results. At present, run rate recurring revenues
total approximately GBP400,000 per annum and management expect these to grow by
at least 15% during the next quarter.
Geoff Robertson, CEO, commented: "More and more companies within the retail
sector are looking to change the way they do business in the multichannel world
in which we now live and shop, and our expertise in enabling them to do that is
proving a strong draw for clients.
The work we have done to develop business partnerships outside of the UK is
enabling us to undertake projects on a worldwide basis. This represents a
significant ongoing opportunity for the Company, as clients increasingly look
to establish a durable relationship with one supplier who can deliver solutions
to all their retail stores to the very highest standards.
The improvement in recurring revenues and hence quality of revenue for the
business has been instrumental in moving the business forward financially.
Further progress in this area continues to be a major strategic focus."
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.
Enquiries:
Geoff Robertson 0845 207 9378
Chief Executive Officer
MediaZest Plc
Edward Hutton / David Hignell 020 3861 6625
Nominated Adviser
Northland Capital Partners
Limited
Claire Noyce / William Lynne / Niall 020 3764 2341/ 2342/ 2343
Pearson
Broker
Hybridan LLP
Notes to Editors:
About MediaZest
MediaZest is a creative media agency and audio visual systems integrator that
specialises in providing innovative marketing solutions to leading retailers,
brand owners and corporations, but also works in the public sector in both the
NHS and Education markets. The Group supplies an integrated service from
content creation and system design to installation, technical support, and
maintenance. MediaZest was admitted to the London Stock Exchange's AIM market
in February 2005. For more information, please visit www.mediazest.com
END
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