Print Published 17th Jul 2017, 10:54

Zinc Media likely to report another loss

Zinc Media Group, the AIM listed TV and multimedia content producer, looks likely to report a further annual loss when it finalises its accounts for the year to 30 June 2017.

In a trading update this morning the company said that the group had “returned to profitability at an adjusted EBITDA level and expects to report an adjusted EBITDA profit for the full year in excess of £0.3 million”.

However, “adjusted EBITDA” is an abbreviation for profit before interest, tax, amortisation, depreciation and anything else that the company would prefer to leave out of the calculation – especially what it regards as abnormal items like the cost of the abortive negotiations with Brave Bison, senior management recruitment, restructuring after the disposal of its publishing businesses, and items totalling over £0.4 million that were charged in the first half of the year (see Luke Johnson leaves Zinc board as losses continue).