12th May 2010 16:05
Press Release |
12 May 2010 |
zamano PLC
("zamano" or "the Group")
Trading Update
zamano PLC (AIM:ZMNO, IEX:ZAZ), a leading provider of interactive applications and services to mobile devices, today issues the following trading update.
As highlighted in the results announcement on 2 March 2010, the market is going through a period of rapid transition with significant changes to regulation, technologies and billing models, which offers opportunities, as well as presenting challenges and the Group is aligning its business to respond to these changes. However, regulations that took effect in early 2010 had a greater impact than expected on customer acquisition and retention, with trading in the Irish market particularly affected. The UK and Australia markets are also trading below expectations.
The Board expects that these trends will continue and therefore 2010 revenues and EBITDA will be materially below market expectations.
In response to the rapid market transition, the Group is continuing to invest in the strategic areas described in the preliminary results announcement on 2 March 2010, including:
·; expanding mobile advertising coverage in existing and new markets. Since March 2010 progress includes completing at&t certification, which expands US mobile advertising coverage to 62% of handsets;
·; enhancing the Group's technology platform to deliver new offerings. The Group branded this development New Generation Mobile and as part of this initiative launched two smart-phone applications in April.
A further update on trading, including details of the progress being achieved with the strategic initiatives, will be provided at the time of the interim results or as appropriate.
For further information, please contact:
zamano plc |
|
John O'Shea, Chief Executive Officer |
Tel: +353 1 488 5830 |
Colm Saunders, Chief Financial Officer |
Tel: +353 1 511 1224 |
Cenkos Securities |
|
Jon Fitzpatrick |
Tel: +44 (0) 131 220 9773 |
Ken Fleming |
Tel: +44 (0) 131 220 9772 |
NCB Corporate Finance |
|
Conor McCarthy Shane Lawlor |
Tel: +353 1 611 5100 |
Media enquiries:
Edelman |
|
Donnchadh O'Leary |
Tel +353 1 678 9333 |
|
www.edelman.com |
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