Web and mobile services provider returns to profitability

Zamano — the Dublin-headquartered web and mobile services provider — has returned to profitability, posting a pre-tax gain of €946,000 and an operating profit of nearly €1.1m for the first six months of 2012.

The Dublin-and London-listed company had shown pre-tax losses of €530,000 for the corresponding period of 2011 and first-half losses of €6.32m in 2010, but had earmarked 2012 as a year of financial recovery.

Last year’s first-half operating losses totalled €393,000, down from over €6m for the previous year. Zamano made a full-year loss of €585,000 for 2011, down from a 2010 loss of €13.3m.

Chairman John Rockett said management is aware of the many challenges facing the business, but added it “continues to show resilience in a tough economic and regulatory environment”.

“By leveraging its core competencies in the web and mobile marketing sector, this should enable the business to achieve further progress during the second half of 2012,” he added.

Zamano chief executive Pat Landy said that “a strong trading outcome” is now anticipated for the current year, as a whole.

“The first half of 2012 was a period during which Zamano significantly improved its trading performance.

“Even though the introduction by ComReg of its new code of practice will have an adverse affect on our Irish and white-label business in the second half of the year and beyond, the group anticipates a strong trading outcome for the full year.”