Zamano Announces Interim Results

zamano PLC (AIM:ZMNO, IEX:ZAZ), a leading provider of interactive applications and services to mobile devices, today announces its interim results for the 6 months ended 30 June 2009.

Mike Watson, Chairman of zamano, commented: “I am pleased to have been appointed Chairman during this exciting time of change and growth in the industry. zamano has all the fundamentals in place to take the business forward, including a strong management team, innovative technology and industry expertise. The short term trading environment is challenging, and a process has been initiated to identify investment opportunities to accelerate the Group’s growth plans and to capitalise on its strengths.”

John O’Shea, CEO of zamano, added: “Management is making progress on the key actions identified in March 2009 including rigorous evaluation of all operations, tight cost control, cash management and measured investment in growth initiatives. During the period the Group improved gross margins and EBITDA margins, maintained adjusted EPS at 2.3 cents and generated €2.1 million of operating cashflow. Revenue declined in the period due to the planned shift to lower volume, higher margin revenue as well as the impact of regulatory change and a weak consumer environment. The Group has identified some areas for future revenue growth, which amongst other initiatives will include smartphone applications”

To see the full report please go to the investors page on the website.


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