Dublin-based mobile services company Zamano targeting acquisitions after strong year

A strong second half helped boost full-year revenues at Dublin-based mobile services company, Zamano by almost 24%, last year.

The company provides messaging, advertising, and payments support tools to mobile communications companies. Yesterday, it reported revenues of just over €19.86m for 2014; 23.9% ahead of the previous year’s total. Pre-tax profits came in at just under €2.2m and were up by 13.5%.

Operating profit was up marginally at €2.23m and after-tax profit rose by 10.6% to just shy of €1.9m. The first half of last year had seen Zamano’s interim profits and revenue dip slightly on the back of a change to its business mix and challenges in its core markets.

After its AGM last August, Zamano’s management told shareholders that it was actively pursuing joint- venture and acquisition opportunities to bolster its business in Ireland and the UK.

On the back of yesterday’s results announcement that strategy remains high on management’s agenda. The results also showed the company to have had a significant improvement in its net cash position last year, from €2.14m to just over €4.6m,

“After another highly satisfactory outcome in 2014, the group intends to remain focused on maintaining its core business while at the same time looking for acquisition opportunities to enable it to strategically realign the group,” said chairman John Rockett.

Chief executive Ross Conlon said the company will this year aim to meet “the wide array of opportunities” available in the web and mobile marketing spaces.

“Zamano’s significant expertise in data analytics, mobile media and mobile billing/ payments makes it an attractive partner for a growth-orientated technology-driven business operating in those areas,” he said.

The company continued to test new geographical markets last year, but has decided to largely focus on English-speaking territories after finding the economic returns generated in markets like Slovakia and the Czech Republic were not “significantly attractive”.

The company has been exploring a number of UK/Ireland-based acquisition opportunities.