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Maiden profit for Zoo Digital
ZOO Digital Group has doubled its turnover and made its maiden profit.
The Sheffield firm, which developed pioneering DVD authoring software and provides creative media services and software to leading film studios, increased revenues from 3.3 million to 6.6 million for the year to the end of March.
Pre-tax profit climbed to 200,000, compared with a 1.9 million loss in the preceding year.
Chief executive Dr Stuart Green said: "These are good results and demonstrate that our focus on providing quality products and service to our major customers, the Hollywood studios, is bearing fruit.
"There is an increasing focus among our customers on efficiencies and cost savings and I am confident that we will continue to grow profitability in 2009."
ZOO Digital says it has boosted the business it does with existing customers and has won a number of new customers, who are keen to capitalise on the reduced production costs and the time to market, which ZOO's products offer.
"The group has delivered a particularly strong performance this year and it is pleasing to see the efforts and investment beginning to achieve positive results. Our relationships with the major Hollywood and other film studios are continuing to strengthen," says the firm.
ZOO says the number of new products being developed by film studios for the latest Blu-ray format is still rising and it believes that will continue, despite the current economic conditions, giving it greater opportunities to provide services for that platform.
The firm says it is planning to unveil a number of new products for automating and optimising the production of Blu-ray discs.
"Current trends within the industry are undoubtedly positive for our business model," says the Furnival Square firm.
"Film studios are looking at more efficient methods of production, reducing the associated spend and increasing the speed to market of their products. ZOO's technology helps them to achieve these goals and therefore our products and services are in strong demand.
"Based on continued strong demand for ZOO's products and services, the board remains very positive about the opportunities for the group and believes that 2009 will be another year of growth for our core business."
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Thursday 24 May 2012
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