19th Mar 2015 08:39
LONDON (Alliance News) - Mobile device applications and services provider Zamano PLC posted a rise in pretax profit for 2014, and indicated it would be exploring acquisitions opportunities in the coming year.
Zamano posted a pretax profit of EUR2.2 million in 2014, up from EUR1.9 million in 2013, on a rise in revenue to EUR19.9 million from EUR16.0 million
It noted that its positive performance had led to an improvement in its net cash position, leaving it with net cash at the end of the year of EUR4.6 million, up from EUR2.1 million at the end of 2013.
The company said it had tested the water with new markets in Eastern Europe during the year, but found that the returns it made in territories such as the Czech Republic and Slovakia were not "significant attractive". As a result, it has discontinued customer acquisition in those markets and is refocusing its marketing spend on English speaking territories.
During the year it explored a number of acquisitions, primarily in the UK and Ireland, to complement its new messaging product for the small-medium-enterprise market in Ireland which was launched in late 2013.
It said that none of the potential investments it had explored had met its criteria, but is continuing to "actively pursue" a number of targets.
Additionally, it has begun discussions with mobile network operators about developing a single-click micro-payment service for mobile devices.
"In 2015, the group will continue to strive to address the wide array of opportunities available in the web and mobile marketing space. 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," said Chief Executive Officer Ross Conlon in a statement.
Shares in Zamano are trading up 17% at 9.50 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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