Cuts boost cash flow at Zamano

Cost reductions boosted cash flow and cut losses at listed mobile and internet service and content provider Zamano in 2011.

The company yesterday reported that revenues in 2011 fell to €15 million from €15.8 million the previous year. At the same time pre-tax losses plummeted to €585,000 last year from €13.3 million in 2010.

Early last year the company cut staff and closed a number of loss-making revenue lines. In a statement Zamano said yesterday that as result of these measures its core business was now running efficiently “albeit in a difficult environment”.

Revenues from its Irish and Spanish businesses fell during 2011, but the company said it made good ground in the UK, where sales grew by 61 per cent.