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Zamano PLC hits acquisition trail as profits rise

Published: 07:40 10 Mar 2016 GMT

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Zamano considered acquisition opportunities in 2015 and is still keen to do deals this year

Mobile phone services supplier Zamano Plc (LON:ZMNO) reported higher annual profits and revenue and said it was on the lookout for acquisitions.

Zamano said pre-tax profit in the year to December 31 rose 12.9% to €2.4mln on a 22.3% increase in revenue to €24.3mln.

The Dublin-based company said it was benefiting from continued growth in smartphone-based mobile commerce and mobile entertainment.

It looked at a number of opportunities to buy businesses during the year and said it was still trying to find acquisition or partnership opportunities in 2016.

Zamano also said it had received a preliminary and highly conditional approach about a possible offer for the company at €0.20 per Zamano ordinary share in August last year.

The group and its advisors talked to the potential bidder but the discussions were terminated in October.

Zamano said it was facing regulatory changes, particularly in its two main markets of the UK and Ireland, and was working with mobile operators and regulators to ensure it complied with the rules.

Chairman John Rockett described the trading performance as highly satisfactory, particularly in the UK where B2B sales rose significantly, despite challenging and competitive markets.

"The challenge for the business in 2016 is to continue to maintain and develop its core activities, bring the output of some of its research and development activities to market and conclude business partnership agreements or acquisitions," he said.

 

 

 

 

 

 

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