4th Nov 2015 17:49
LONDON (Alliance News) - Zamano PLC on Wednesday said that Non-Executive Chairman John Rockett will step down from his role at the end of March 2016 to give him more time for his other business interests, as it provided a trading update to show that revenue and EBITDA were higher in the first nine months of 2015 that in the corresponding period the prior year.
The mobile messaging, payments and marketing company said it has begun a process to recruit a new director, with a further update to follow in due course.
"John has been an excellent director and chairman for the company playing an important role in the stabilisation of the company's performance in recent years. He has been a valued adviser for the executive management team as well as providing strong leadership for the board," Chief Executive Ross Conlon said in a statement.
"As a result we are sorry that he will be leaving us and, on behalf of the board, I would like to thank John for his contribution and commitment," Conlon said.
Revenue was up to EUR16.8 million and earnings before interest, tax, depreciation and amortisation up to EUR2.1 million in the nine months to September 30, compared with EUR13.4 million and EUR1.7 million in the corresponding period the prior year. Net cash was EUR5.4 million at the end of September against EUR2.5 million at the same stage the prior year, the company said.
The stock closed flat at 11.25 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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