Zinc Media Group PLC on Wednesday reported a narrowed interim loss and a rise in revenue, as it eyes profit in the second half of the year.

For the six months that ended on June 30, the UK-based TV and multimedia content producer said revenue increased by 54% to £10.8 million from £7.0 million a year ago.

Zinc Media said all divisions saw revenue increases year-on-year, with London TV up 62%, Tern TV up 37% and Zinc Communicate up 78%.

Zinc’s pretax loss narrowed to £1.8 million from £2.1 million a year ago.

Adjusted earnings before interest, tax, depreciation and amortisation decreased by 41% to £645,000 from £1.2 million.

Chief Executive Officer Mark Browning said: ‘We are delighted with the current performance of the group which has seen a considerable increase in turnover whilst maintaining an attractive margin, with good visibility of sustainable profitability. The organic growth, coupled with the acquisition of The Edge, provides initial scale and the board is optimistic about the group’s outlook and views the future with confidence.’

Looking ahead, Zinc Media said it expects to be profitable at an earnings before interest, tax, depreciation and amortisation level in the second half of the year. It said it is trading in line with expectations for the full-year.

In August, Zinc Media bought corporate film making production firm The Edge Picture Co Ltd for £1.56 million in cash.

Shares were 1.1% lower at 93.00 pence each on Wednesday morning in London.

Copyright 2022 Alliance News Limited. All Rights Reserved.