Zamano is holding it’s AGM today and has issued an interim statement. Read the full statement here.
Interim Management Statement – zamano AGM
Dublin, 13 June 2013: zamano plc (AIM:ZMNO, ESM:ZAZ), a leading mobile commerce company in Europe has today issued the following Interim Management Statement in conjunction with the Group’s Annual General Meeting which is being held at 11.00am today.
Following the transformational results reported in the year to 31 December 2012, the Group has made strong progress in the first five months of 2013. Robust performances, particularly in zamano’s UK operations continue to underpin revenue for the Group during the first half of 2013. Over the period, zamano also expanded its geographical footprint and established new operations in Central Europe, Scandinavia and Australia targeting an additional 48 million mobile phone users. The Group plans further expansion in up to six additional territories during the remainder of 2013, targeting an extra 134 million mobile phone users. When this expansion is completed, zamano will have access to approximately 590 million mobile phone users worldwide. In the US, zamano migrated its operations to a new aggregation partner, Mobile Messenger who has operations in North America, UK, South Africa and Asia. It is hoped that this will result in increased traffic for the Group in the US market during the second half of the year.
The strong operating performance during the first half of 2013 has resulted in a further improvement in our cash balances, which enabled us to internally fund the working capital requirements associated with our territorial expansion.
The Group’s strategy to invest in product development in response to the ongoing growth of mobile data services worldwide is being actively pursued. In this regard, the Group intends to conduct a soft launch of a new messaging product targeted at SME customers in both Ireland and the UK during the second half of the year. In addition, zamano plc continues to seek joint venture and licencing opportunities in order to increase the depth of the Group’s product offering. Finally, at operational level, during the first quarter, zamano invested in the state-of-the-art Tableau data analytics system to strengthen its market leading position in sales funnel optimisation and sales lead conversion.
Pat Landy, Chief Executive Officer
Michael Connolly, Chief Financial Officer
Tel: +353 1 554 7313
Investec Corporate Finance
Conor McCarthy / Shane Lawlor
Tel: +353 1 611 5611
Tel: +44 (0) 20 7397 1951
Tel: +44 (0)131 220 6939