Zamano revenues jump 22.3pc in "highly satisfactory" year
Published 10/03/2016 | 07:14
Zamano, an Irish tech firm, reported a 22.3pc increase in revenues last year up to €24.3m.
Earnings before interest tax depreciation and amortisation (EBITDA) increased b7 9.5pc, up to €3m in 2015, while pre-tax profits jumped 12.9pc to €2.4m.
Chairman at Zamano, John Rockett, said the firm was pleased to report on a "highly satisfactory outcome" for 2015.
“The robust nature of the Group’s operating performance during 2015 was reflected in a further improvement in Zamano’s net cash position. At 31 December 2015, net cash was €6.3m," he said.
The company's net cash rose significantly over the course of 2015, up to €6.3m from €4.6m in 2014.
The chairman continued, outlining the company's plans for expansion.
“In 2016, Zamano will continue to focus on its core activities whilst exploring acquisition or partnership opportunities with a view to diversifying and improving its product footprint,” Mr Rockett said.
Zamano chief executive, Ross Conlon, said the group maintained its ongoing sales growth.
“The continuing growth of mobile users and the increased penetration of smartphones is the main driver of growth in mobile payments, mobile commerce and mobile entertainment.
"Similar to 2014, the Group continued to seek out opportunities for development in buoyant and growing market niches which are a feature of the web and mobile commerce product and services sectors," Mr Conlon said.
In October talks over a potential takeover of Zamano fell through after an offer of 20c per share had been put to the firm in August.