Zoo Digital (GB:ZOO) has released an update.
ZOO Digital Group plc, a leading provider of cloud-based localization and media services, faced industry-wide challenges in FY24, resulting in a 55% revenue drop and significant losses due to Hollywood strikes. Despite the setbacks, the company is optimistic about a gradual recovery, with recent improvements in trading and strategic positions in global markets enhancing their long-term growth prospects. ZOO’s resilience is underpinned by a strong cash position and the establishment of new operational hubs, positioning it favorably for the industry’s expected return to pre-disruption levels by late 2025.
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