Zamano prepares for change as it eyes acquisitions

Interactive mobile services firm says sales grew strongly in first half of 2016

Zamano warned that  lower advertising spend in the first half of 2016 had had an impact on margins. Photograph: iStock

Zamano warned that lower advertising spend in the first half of 2016 had had an impact on margins. Photograph: iStock

 

Interactive mobile services firm Zamano said sales in its United Kingdom business continued to grow strongly in the first half of 2016, but warned lower advertising spend had had an impact on margins.

The firm is coming off a year in which is recorded significant growth in sales, driven by strong performance in the UK. That led to a €2.4 million pretax profit for 2015, almost 13 per cent higher than the previous year.

Zamano pointed to changes in its UK it said had also had an impact its overall group contribution margins.

Acquisitions

The Dublin-listed company is also eyeing some acquisitions in the coming months after a strategic review of the business commissioned by Zamano’s board found the company needed to shift its attention to higher-value-added activities.

“This can be most effectively achieved by implementing a focused bolt-on acquisition programme in the mobile advertising, social and billing areas,” the company said in a statement. “The strategic review identified a small number of potential acquisitions in these three sectors which Zamano is currently evaluating.”

Technology entrepreneur and Continuum Commerce founder Edmond Murphy, who led the team carrying out the strategic review for Zamano, has joined the board as a non-executive director.

“His extensive experience in payments, social media and advertising will be of considerable benefit to Zamano as we actively pursue the repositioning of the business,” said Zamano chairman Colin Tucker.