Zamano debt reduced to €4.7m

Web and mobile services company Zamano has announced revenue of €6.24m for the six months to the end of June, compared to €8.75m for the same period in 2010.

Gross debt was reduced to €4.7m, with cash at €1.4 million. Net debt is €3.3m.

Zamano boss John O'Shea said: "We are pleased to have seen modest growth in the business in (the third quarter of this year) compared to the March-June period.

"As our investment capacity is limited, we intend focusing it entirely on opportunities related to our mobile expertise, and have suspended further investment in Newsworthie."