Zamano pursues acquisition, joint-venture opportunities
The company — which provides messaging, advertising, and payments support tools to mobile communications providers — told shareholders at its AGM in Dublin yesterday, that it recorded “a material increase in revenues” during the first half of this year.
“This is mostly as a result of increased UK sales, as well as achieving sales levels in Australia significantly ahead of the second half of 2013, due to the successful development of a strategic campaign with new mobile advertising partners,” it said.
It added that, in Ireland, its new messaging product, Messagehero, which is targeted specifically at SMEs “continues to be refined in accordance with market demands.”
At the turn of the year, Zamano unveiled Ross Conlon — its former chief technology officer — as its new CEO, with the main remit of progressing the group’s strategic development and positioning it to capitalise on what is viewed as a buoyant overall market environment for web and mobile commerce products and services.
Updating that change, Zamano said yesterday that it is now “focused” on identifying acquisition, investment and joint-venture opportunities in the UK and Ireland, “in order to accelerate the development of the business”.
“The group has focused on opportunities in mobile media, payments, messaging and related products during the period [the first half of 2014] and is actively pursuing a number of such opportunities; any of which, if concluded, will diversify Zamano’s product base,” it added.
Back in March, Zamano reported a 16.5% drop in annual revenues — to just over €16m — for 2013.
However, it presented an upbeat forecast on the back of double-digit percentage growth in pre-tax profits and an operating profits rise by nearly 9%.
Shareholders attending yesterday’s AGM were told that the solid 2013 performance — delivered in the midst of a challenging trading environment — was achieved through “strong focus on revenue diversification, cost control and cash generation, and, in the circumstances, was a significant accomplishment for the business”.
