Zamano first-half revenue falls

IRISH mobile telephony applications company Zamano has expressed confidence in its long-term prospects, but has said that financial performance for the second half of this year will be flat.

“Despite the short term challenges, the board has confidence in the medium and long term prospects of the industry and is excited about the high growth areas and the opportunities that they present,” said Zamano’s chief executive, John O’Shea. His views came on the back of the company — which provides various technologies used for developing feature content (such as ringtones and games) on mobile phones — reporting a 44% decline in first half revenues to €13.3 million.

Earnings per share for the first half of the year remained at 2.3c — the level it was at the halfway point last year — but earnings before interest, tax, depreciation and amortisation (EBITDA) fell slightly from €2.5m to €2.3m.