Zamano, the Dublin-listed provider of interactive applications and services to mobile devices, saw sales rise by 19.3 per cent in the first six months of its financial year on the back of strong third party (B2B) sales performance in the UK.

Sales rose by 19.3 per cent to € 10.4m in the six months to June 30th, as profits before tax advanced by 18.9 per cent to € 1.2m, and earnings (EBITDA) grew by 16.6 per cent to € 1.4m. Zamano had cash of € 5.4m as of June 30th, compared to € 2.97m in 2014.

Ross Conlon CEO of zamano, said it was a "highly satisfactory" first half of the year for the company.

“These positive results are attributable to a strong third party (B2B) sales performance in the UK, an improvement in contribution margins in Ireland and tight cost controls and efficient cash management across the group,” he said, adding that Zamano’s process to gradually overhaul its UK customer acquisition model will give the company greater in-house capabilities.

In Ireland, sales were € 1.7m for HI, down by 5.2 per cent on 2014, but the gross margin percentage achieved of 31.8 per cent was ahead of the 29.1 per cent achieved during the first half of 2014.

“The Irish business continues to be impacted by ongoing changes in compliance requirements. Consequently, while Ireland remains an important market for Zamano, overall market conditions remain challenging,” the company said.

Ac quisition

Zamano said there was no update on an preliminary approache made on August 3rd, which valued the company at an offer price of € 0.20 per share and was conditional on, amongst other things, confirmatory due diligence.

“There continues to be no certainty that any offer will be made nor as to the terms of any offer,” Zamano said.