16th Sep 2015 08:52
LONDON (Alliance News) - Zamano PLC, which provides interactive applications and services via mobile devices, on Wednesday said that first-half earnings grew on higher revenue, as the company awaits a potential takeover offer.
Zamano in early August said it had received a "preliminary and highly conditional" approach about a possible takeover valuing it at EUR0.20 per share. That offer price was conditional on a number of factors, including due diligence. The source of the potential offer has not been named by Zamano.
Shares in Zamano were untraded at 11.50 pence on Wednesday morning in London.
"There continues to be no certainty that any offer will be made nor as to the terms of any offer. Further announcements will be made as appropriate and shareholders are advised to take no action for the time being," Zamano said in a statement on Wednesday.
Pretax profit increased to EUR1.4 million in the six months to June 30, compared with EUR964,000 in the corresponding half the prior year, as revenue grew to EUR10.4 million from EUR8.7 million.
Before interest, tax, depreciation and amortisation, earnings rose to EUR1.4 million from EUR1.2 million.
"These positive results are attributable to a strong third party (B2B) sales performance in the UK, an improvement in contribution margins in Ireland and tight cost controls and efficient cash management across the group," Chief Executive Ross Conlon said in a statement.
By Samuel Agini; [email protected]; @samuelagini
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