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MediaZest Plc (LON:MDZ) has released a trading and Covid-19 update.
The company has while reporting its trading updates for the second half of the Group’s financial year to 31 March 2020, stated that in the period from October 2019 to January 2020, the business performed well.
- The revenue for the four-month period (Oct-Jan) was £1.2 million, and profit at the operating subsidiary MediaZest International was £167,000 at EBITDA level, which resulted in a net profit of £127,000 after tax.
- The revenue was £1.2 million with EBITDA profit of £58,000, though it suffered a minor loss after tax of £5,000.
- The company though stated that trading in last two months of February and particularly March 2020 had been materially adversely impacted by the Covid-19 outbreak, now rather than the expected profit for the 6 months to 31 March 2020 the Group expects to realise a modest loss after tax.
- On 3rd March 2020, at the time of writing, GMT 08:21 AM, MDZ shares were trading at GBX 0.03, unchanged against the previous day closing price.
