Technology firm Zoo Digital has upped forecasts after seeing significant growth in its key entertainment market.
The Sheffield firm, which provides localisation and media services to the global entertainment industry, has provided a trading update for the financial year ending March 31 which says revenues for the year, previously forecast at around $65m (£51m), are now likely be around $70m (£55m).
The company said that its Ebitda, adjusted for share-based payments, is also expected to be ahead of the previous expectations at around £8m (£6.3m), an increase of approximately 78% on the prior year. Zoo’s net cash on March 31 was $5.4m (£4.2m), which it said reflected its strong cash generation despite significant investment to expand capability and underpin future revenue growth.
