10th Mar 2016 10:38
LONDON (Alliance News) - Mobile device applications and services provider Zamano PLC on Thursday posted a rise in pretax profit for 2015, and indicated it would be exploring acquisitions opportunities in the coming year.
Zamano reported a pretax profit of EUR2.4 million, up from EUR2.2 million in 2014, on a 22% rise in revenue to EUR24.3 million from EUR19.9 million.
Zamano said it made further progress in the development of its micro-payment solution for mobile devices, as Zamano became an "approved direct carrier billing partner" with mobile network operators Vodafone Ireland and Three.
Zamano added it had explored a number of acquisition opportunities in the UK and Ireland over the year, to complement its Messagehero product launched in 2014, and noted it has been approached by a private investment vehicle that expressed an interest in acquiring Zamano during 2015. However, it said an agreement could not be reached.
It said it will continue to look for "niche opportunities" in the web and marketing space to acquire.
"Zamano is pleased to report on what was a highly satisfactory outcome on a financial and operational level for the year December 31, 2015. The group maintained its upward progress in respect of revenue and profit during the year," said Chairman John Rockett.
"In 2016, Zamano will continue to focus on its core activities whilst exploring acquisition or partnership opportunities with a view to diversifying and improving its product footprint," Rockett added.
Shares in Zamano were down 4.3% at 10.52 pence on Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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