SHARES in e-commerce firm Zamano more than doubled this morning after the company swung to profit last year.
The company, which is known for its mobile advertising and premium messaging services, said pre-tax profits topped €3.5m in 2012, a year after posting a loss of €585,000.
Even with the higher profits, the company reduced its debt from more than €4m to less than €200,000 during the year.
Company chief executive Pat Landy said the business had “delivered a strong operational and financial performance in 2012”.
“In line with the on-going global growth in mobile usage and rapid adoption of smartphone devices, Zamano is focusing its market development activities in 2013 on expanding its web and mobile offering to new emerging territories in Eastern Europe, the Americas and Asia. The Group will also explore ways to increase the depth of its product portfolio via joint ventures and licencing arrangements,” he added.
By 11.30 in Dublin shares in Zamano were up 100pc at 12c.