Dublin and AIM-listed mobile services firm Zamano has reported an after-tax profit of €1.1m based on a 70pc increase in turnover of €9.6m for the first six months of this year.
The company said some of this performance was driven by the positive impact of its €8.5m acquisition of Eirborne with integration of the new company proceeding ahead of target.
Zamano’s business consists of a business-to-business (B2B) unit and business-to-consumer (B2C) unit made up of a number of Zamano-owned brands selling directly to mobile consumers.
The margins of both units are different, ranging from 15pc to 30pc in B2B and up to 50pc in B2C.
The company acknowledged the negative publicity that the premium rate messaging industry attracted in the last six months and has completed an independent review of its B2B business in the UK. As a result it has put in place more stringent guidelines for service management.
A similar review is planned to take place in Zamano’s Irish and Australian activities.
The company is now the largest messaging provider in Ireland and a top 10 player in the UK.
“Zamano has successfully reached a new level in its continued development,” said the company’s chairman Rod Matthews. “As well as listing on the AIM and IEX, the company has strengthened its management team, increased its sales resources and invested further in R&D.
“The results of this investment became very apparent in Q2 this year and were manifested in continued improvements in revenues and profits,” Matthews added.
By John Kennedy