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Zoo plunges on profit warning

Zoo plunges on profit warning

Shares in Zoo Digital (ZOO) plunged nearly 50 per cent after the company warned that adjusted cash profits for the year to March 2019 would be “significantly below expectations”. Management blamed the loss of a material localisation project during the second half, which was scheduled to begin and end during the period. Meanwhile, revenues associated with processing legacy DVD and Blu-ray titles in the that same period will be “significantly lower” than expected, because of the accelerated decline of this market. 

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