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News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM

Zamano reports 18% rise in after-tax profits for 2007
By Finfacts Team
Apr 8, 2008 - 11:01:33 AM

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John O'Shea, Managing Director of Zamano
Zamano, the mobile data and services firm today reported an 18% rise in after-tax profits for 2007.

Zamano which is listed in Dublin and London said its revenues grew by 100% to over €24.7 million last year.

The adjusted diluted earnings per share rose 15% to 4.6 cents, up from 4 cents a year early. After-tax profits were €2.61 million.

Zamano made two significant acquisitions in 2007 - Eirborne and Red Circle - which the company says provides it with a strong presence in the UK and Australia.

Group EBITDA (Earnings before interest, taxes, depreciation and amortization) grew at a faster-than-expected rate to €3.5 million, up from €2.4 million in 2006.

John O'Shea, CEO of Zamano commented; “2007 was a transformational year for Zamano plc. When the Company listed in October 2006, we explained that our strategy for the growth and development of the Group would be focused on three key areas:

  • Identification of suitable merger and acquisition targets in order to ensure that zamano benefits from the continuing consolidation of the market;

  • Development of our technology platform to support new technologies and services; and

  • Identification of appropriate new geographic markets and controlled entry into those markets.

The Group made substantial progress in executing its strategy during 2007, resulting in a strong financial performance with revenues doubling and EBITDA increasing by 44%.

During the year, the Group considerably strengthened its management team and has put the right resources in place to extend its strong growth story into 2008 and beyond.

I am very satisfied with recent progress in developing our team, our strategy and technology, and am confident that the 6 years of consecutively high growth to 2007 will continue in 2008 and beyond.”

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