In a trading update, ZOO said March 2024 invoicing reached the highest level since April 2023 following an acceleration in the company’s pipeline of work. In a statement, ZOO said: “Further to the trading statement of March 26 2024, the company has since renewed for a further 12 months debt facilities of up to $3m with HSBC. These facilities remain fully undrawn but provide the company with enhanced financial flexibility for working capital purposes in an improving market environment.
The statement added: “Revenues for FY25 Q1 are expected to be 36 per cent up on FY24 Q4 which, together with recently implemented cost savings, is expected to result in EBITDA at break-even in Q1.” The company has also received dubbing and subtitling orders from a major film and TV distributor. The statement added: “ZOO’s strategy remains focused on developing and deploying innovative technology to provide leading and differentiated end-to-end services to its customers.