Zamano says results will be in line with expectations

MOBILE phone content provider Zamano is targeting continued international growth this year, after saying its 2008 figures should be in line with market expectations.

The Dublin-based company, which provides technology used for developing feature content on mobile phones, is due to report its full-year results for 2008, at the end of next month. It said yesterday that it expects earnings before interest, tax, depreciation and amortisation (EBITDA) to amount to around €4.8 million, with net debt of €7.5m.

While much of Zamano’s revenue has been driven from its operations in Britain, it has seen profits grow in the US of late — mainly on the back of the acquisition, last year, of Dublin firm Red Circle Technologies, which has strong operations there.

Towards the end of last year, Zamano entered the Spanish market and it is targeting more territories this year — including some in Europe and South Africa.

The company said yesterday that it remains “highly cash generative” and is satisfied with the progress made over the course of the past 12 months.

“We’re as optimistic as any company can be in the current economic climate and we’re looking at keeping a tight rein on expenditure and running the business as best we can,” according to Zamano chief executive, John O’Shea.

He added: “While the current economic conditions and sterling weakness have created a challenging trading environment, the steps the board has taken continue to effectively position the business to meet the challenges. We remain confident in our strategy and our ability to execute successfully on opportunities, as proven by the profitable growth in the US.”

Any growth in the current year is likely to be organically-based, with no acquisitions planned — partly due to the nature of the global economic climate at present and the fact that recent acquisitions, including that of Red Circle, are still being fully bedded into the group structure.