Source - SMW
Zoo Digital has swung to a FY pretax profit of $0.5m, from a loss of $1.5m. This was achieved on revenue up 42% to $16.5m, from $11.6m.

"ZOO made considerable progress with a strongly improved financial performance driven by the strength of our differentiated services enabled by our innovative cloud technology," said CEO Stuart Green.

"The improvement experienced through the second half of the year has carried on into the new financial year and the current pipeline of work is considerably stronger than at the corresponding prior period," he said.

"The Group has a more diverse client base and is becoming increasingly recognised as an innovative provider of vital solutions for an industry in which distribution channels and needs have been fundamentally transformed.  

"With approved vendor status for a number of key digital platforms, ZOO is an obvious choice for content owners looking to maximise their reach.   "The Group has a stronger balance sheet and the increased funding that it has secured, along with an enlarged sales team, should enable it to take advantage of the market opportunity. 

"With continuing momentum for the Group's existing tools and a number of exciting new solutions to clients' localisation and security needs, the board looks to the current year and beyond with confidence."

At 9:13am: (LON:ZOO) Zoo Digital Group PLC share price was +1.75p at 12p