Zamano predicts earnings of €4.8m for 2008

2 Feb 2009

Dublin and London Stock Exchange-listed mobile software firm Zamano said today that it expects earnings before interest, taxes, depreciation and amortisation (EBITDA) to be €4.8m.

The company said in a trading statement it expects its net debt to be around €7.5m, which is “slightly better than expectations.”

The board of Zamano said it was happy with the progress the company has made up to 31 December in “remaining highly cash generative and maintaining gross margins.”

The company’s growth in the US is making a significant contribution to overall profitability, and the board expressed optimism for growth potential from the US market.

“While the current economic conditions and sterling weakness have created a challenging trading environment, the steps the board has taken, as highlighted in the interim results, continue to effectively position the business to meet the challenges,” explained John O’Shea, CEO of Zamano.

“The board remains confident in its strategy and the ability of the management team to execute successfully on opportunities, as proven by the profitable growth in the US,” he said.

By John Kennedy