RNS Number : 6003M
Zamano PLC
02 February 2009
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Press Release
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2 February 2009
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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 announces that it expects EBITDA for the 12 months to 31 December 2008 to be approximately €4.8M which is in line with market expectations and net debt of €7.5M which is slightly better than expectations. The Board is satisfied with the progress the Group has made during the financial period, remaining highly cash generative and maintaining gross margins.
The Group has achieved good growth in the US business which is now making a significant contribution to overall profitability, and the Board is optimistic about the potential for further growth in this market.
John O'Shea, CEO of zamano, said: 'While the current economic conditions and Sterling weakness have created a challenging trading environment, the steps the Board has taken, as highlighted in the interim results, continue to effectively position the business to meet the challenges. The Board remains confident in its strategy and its ability to execute successfully on opportunities, as proven by the profitable growth in the US.'
The Board will provide an update on 2009 trading when it releases final results for 2008 in late March 2009.
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For further information, please contact:
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Zamano plc
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John O'Shea, Chief Executive Officer
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Tel: +353 1 488 5830
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Colm Saunders, Chief Financial Officer
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Tel: +353 1 511 1224
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Cenkos Securities
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Jon Fitzpatrick
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Tel: +44 (0) 131 220 9773
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Ken Fleming
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Tel: +44 (0) 131 220 9772
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NCB Corporate Finance
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Conor McCarthy
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Tel: +353 1 611 5100
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Media enquiries:
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