Web and mobile products and services provider zamano (LON:ZMNO) fired on all cylinders in 2014.
Revenue, pre-tax profit and cash generation all moved in the right direction on the back of strong performance in the UK.
In 2014, revenue rose 23.9% to €19.86mln from €16.03mln the year before, with UK revenues of €15.18mln up 56.5% year-on-year. Profit before tax climbed 13.5% to €2.18mln from €1.92mln in 2013.
Cash flow is often a problem for growth companies, but zamano saw a significant improvement in net cash during the year from €2.14mln at the end of 2013 to €4.60mln at the end of 2014.
The cash should provide firepower for any bolt-on acquisitions the firm wants to make; chairman John Rockett said the company explored a number of potential acquisitions last year, primarily in the UK and Ireland.
“The group and its advisors identified and examined a number of opportunities in mobile media, billing and messaging, but unfortunately to date none of these potential investments adequately met the criteria set. We do, however, continue to actively pursue a number of targets with a view to diversifying our business operations,” Rockett said.
The only metric that headed in the wrong direction was gross profit margin, which retreated to 24% from 31% the year before, largely because of a significant increase in lower margin third party activity in the UK business-to-business market during the second half of 2014.
Ross Conlon, chief executive of zamano, said: “In 2015, the group will continue to strive to address the wide array of opportunities available in the web and mobile marketing space.
“zamano's significant expertise in data analytics, mobile media and mobile billing/payments makes it an attractive partner for a growth orientated technology driven business operating in those areas,” he added.