Source - Alliance News

Zinc Media Group PLC on Tuesday said it has started 2023 in its strongest position for five years, noting an ‘excellent’ pipeline of business opportunities.

The Edinburgh-based television and multimedia content producer said revenue and adjusted earnings before interest, tax, depreciation and amortisation are both expected to be ahead of market estimates for 2022.

In November, Zinc Media had said it expected revenue of £28 million for 2022, up 60% from £17.5 million in 2021. It expected Ebitda to move into profit for the second half of 2022, having reported an Ebitda loss of £600,000 for all of 2021.

The company said it saw a strong performance in the fourth quarter of 2022, augmented by its educational film producing division, the Edge, which saw its best ever trading year, and has record pre-booked revenue for the year ahead.

Zinc Media noted that it has £15 million revenue booked for the year ahead, up 67% from £9 million of pre-booked revenue the year prior.

The company added that it has £12 million of highly advanced revenue on the pipeline for delivery in 2023, doubled from £6 million a year ago.

Chief Executive Officer Mark Browning said: ‘This is the strongest start to a financial year during my time at Zinc and comes off the back of our expected over performance against market expectations for FY22. The group has an excellent pipeline and a high amount of revenue at contracting or highly advanced stage for FY23.

‘The Edge is performing ahead of initial expectations, and we have launched another new TV label which will further diversify our product and client base in FY23 and FY24.’

Zinc Media noted its latest TV series, ’Putin vs The West’, premiered on the BBC last week, leading the news agenda on its release day.

Zinc Media shares were up 20% trading at 100.00 pence per share on Tuesday afternoon in London.

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