Zamano reports pre-tax loss of €500,000
CEO pleased with "modest growth"
TechTrade | 29 Sep 2011 :
Web and mobile services company Zamano has released its interim results for the six month period ended 30 June 2011, revealing a pre-tax loss of €500,000. The same period last year recorded a pre-tax loss of €6.53 million.
The company took in revenue of €6.24 million, a drop of from €2.21 million over the first half of 2010. Gross margin declined from 32% to 29%.
Zamano had cited the widespread adoption of smartphones and stricter regulation as reasons for its decline in revenues, that saw a massive drop in 2009 as sales fell by 45% in Ireland and 55% in the UK.
John O'Shea, CEO of zamano, said: "Having completed a re-structuring and re-positioning of the Group earlier in the year, we are pleased to have seen modest growth in the business in Q3 2011 compared against Q2 2011."
Shares in the company were trading at 1.5c on the ISE this morning.