Zinc Media reports record profits
April 25, 2024
Factual production company Zinc Media Group has announced a record year for revenue and profit, driven by strong organic growth.
The company’s financial statements for 2023 show the Group has delivered its best results since 2010. Group revenues hit £40 million (FY22: £30 million) with an EBITDA profit of £1 million (FY22: £0.1 million). Revenue growth was driven by 19 per cent organic growth in television, alongside a full year contribution of The Edge which was acquired in August 2022.
Additional financial highlights of the past year include:
o The Group has significantly outperformed the UK television production sector with revenues growing by £4 million in 2023, and by £23 million in two years.
o A record 15 television series were recommissioned, alongside 6 promising new series.
o Revenue from television productions made outside of London (MoL) reached a record high of 70 per cent, (FY22: 67 per cent).
o The Edge Picture Company continues to perform ahead of acquisition expectations, generating £13 million of revenue in FY23.
o The Group reported its highest level of international business with 23 per cent of revenues coming from outside the UK (FY22: 18 per cent).
Mark Browning (pictured), CEO of Zinc Media Group, commented: ‘This has been a year of record achievement for the Group and comes off the back of significant investment in our people and our businesses along with our acquisition of The Edge 18 months ago. We have big ambitions to scale this Group through organic expansion and strategic acquisition”.
Other posts by :
- SES announces €0.25c dividend
- Russia “blinding and destroying” German satellites
- Bank: AST, Starlink, Kuiper targeting $200bn market
- Rivada: Is no news good news?
- SES celebrates Intelsat acquisition
- Pakistan halts broadband direct-from satellite
- India stymies Starlink launch
- Starlink, AST SpaceMobile race for cellular consumers
- Trouble ahoy for foreign D2D satellites over India?