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Zinc reports record start to 2023 after ‘over-performing’ in 2022

Putin vs The West, BBC

Zinc Media has said it expects to exceed analyst expectations for FY2022, and is already on track for a possible record-breaking 2023.

Its 2022 results were boosted by its film-based learning division The Edge reporting its best-ever year’s trading, while the solid start to 2023 has doubtless not been hurt by the rave reviews Putin vs The West has been receiving since it dropped on BBC 2 and iPlayer. The doc looks at the rise of Vladimir Putin and the decisions that led to the war in Ukraine, and included impressive access to David Cameron, Teresa May, Boris Johnson and Volodymyr Zelensky, along with the Director of the CIA.

Zinc, which has offices in Macclesfield and Manchester and also operates publishing, audio and post-production arms, said that it expected both 2022 adjusted revenues and EBITDA (predicted at £1m) to exceed previous predictions “considerably.”

Looking ahead, Zinc reported revenue of £15m already booked and anticipated to be delivered in FY23, up from £9m for delivery in FY22 on February 7 last year, and an increase of £9m since the trading update in November 2022 and a further £12m of highly advanced revenue in the pipeline for delivery in FY23 (£6m on 7 February 2022). The Edge also already has record pre-booked revenue for the year ahead, and Zinc reported a robust balance sheet with cash of £3.8m as at 2 February 2023.

Mark Browning, chief executive officer, said: “This is the strongest start to a financial year during my time at Zinc and comes off the back of our expected over performance against market expectations for FY22.”

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