Zamano reports 28% rise in turnover

COLM KEENA

E-commerce firm Zamano saw a 28 per cent rise in turnover in 2012 when compared with the previous year.

Results released today for the 2012 calendar year show it had turnover of €19.2 million and profits before tax of €3.56 million (in 2011 it reported a pre-tax loss of €0.58 million).

Earnings before interest tax depreciation and amortsations (Ebitda), at €2.5 million, was up significantly on the previous year, when the figure was €0.35 million. Operating profit was €2 million and net debt, which was €4.38 million at the end of 2011, was eliminated.

Chairman John Rockett said the group performed strongly in 2012, generating increase turnover and pre and post tax earnings.

“This, coupled with the completion of a debt settlement agreement with our bank, puts the group in its strongest financial position for a number of years.”

He said the board’s focus during 2013 will be to broaden Zamano’s product market base.

The group’s acting chief executive, Pat Landy, said the company was focusing on expanding its web and mobile offering in Eastern Europe, the Americas and Asia.