Zamano set to be debt free by end of the year

IRISH mobile phone content company Zamano is on course to be debt free by the end of this year.

The Dublin-based company, which provides various on-phone applications for mobile phone companies and network providers, yesterday reported a 40% decline in full-year revenues to €25.1 million for 2009. While EBITDA fell from €5m to €4.3m, the decline was in line with expectations.

The company did, however, post an after-tax profit of €1.1m, which was up from a post-tax loss of €3.8m for the previous year.