RNS Number : 7449V
Zamano PLC
16 July 2009
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Press Release
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16 July 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, is pleased to give the following trading update for the six months ended 30 June 2009 ahead of its AGM to be held at 11am today.
The Board expects EBITDA to be in line with market expectations at approximately €2.3 million. Revenue during the period has been below expectations but this has been offset by improved gross margins and lower operating costs.
Cash generation in H1 2009 continued to be strong resulting in a reduction in net debt of 18% to approximately €5.9 million at 30 June 2009 compared with €7.2 million as at 31 December 2008.
Rod Matthews, Chairman of zamano, commented: 'The Group has made progress on the key steps outlined in March 2009, including entry into new geographic markets, expansion of mobile advertising and developing new mobile payment mechanisms while continuing to focus on cost reduction and margin maximisation in mature markets. The Board believes the prospects in the sector remain strong for the medium term however in the short term the trading environment is challenging.'
The Board will announce the Group's Interim Results for the six months to 30 June 2009 in late September 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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