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4 Jul 2008 07:00
Trading Update - zamano plc
zamano Plc ("zamano" or "the Group") (AIM:ZMNO, IEX:ZAZ), a leading provider of interactive applications and services to mobile devices, today issues the following trading update for the 6 months to 30 June 2008.
The Group has continued to make significant progress during the last six months. However, several factors have contributed to a performance below Board expectations.
Weakness of sterling as a substantial proportion of the Group's gross profit is generated in the UK.
The full integration of Red Circle has taken longer than anticipated although this process has now been completed successfully and trading in May and June has recovered.
Accordingly, the Board expects EBITDA of at least €2.3M and Adjusted Diluted EPS of 2.0 cents for the 6 months to 30 June. While these results are below Board expectations, they represent significant growth over the same period in 2007.
Due to the performance of the business in May and June the Board is satisfied, assuming constant currency, that the Group's EBITDA and Adjusted Diluted EPS in the second half will show positive growth over the first half.
In addition, the Board continues to monitor the decline in consumer confidence in our key markets and its potential impact on the business.
zamano expects to publish its interim results to 30 June 2008 in mid-September and will provide a further trading update at that point.
Contacts:
zamano
John O'Shea (CEO) +353 1 488 5830
Colm Saunders (CFO) +353 1 511 1224
www.zamano.com
NCB Corporate Finance
Conor McCarthy +353 1 611 5936
www.ncb.ie
Seymour Pierce
Nandita Sahgal +44 207 107 8000
www.seymourpierce.com
Edelman
Joe Carmody +353 1 678 9333
www.edelman.com
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