Source - SMW
MediaZest said first-half losses widened as costs rose and contracts were delayed 

The company posted a pre-tax loss of £149,000, compared to a £67,000 loss a year earlier, as revenue fell 9% to £1.34m.

"The fall in revenue was largely the result of two key projects slipping into the subsequent period," the company said.

Administrative expenses, meanwhile, were higher to meet increased demand, it added.

"The board acknowledges that timing differences mean that the half-year results do not reflect the continued improvement in the group position but are confident that by the full year this situation will be better represented," the company said.

"Pending the outcome of a handful of current pitches for quarter four of that year, the board hopes that the company will deliver a consolidated full year profit at EBITDA level for the first time."