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Trading Statement

12 May 2010 16:05

RNS Number : 8096L
Zamano PLC
12 May 2010
 



 

Press Release

12 May 2010

 

zamano PLC

("zamano" or "the Group")

Trading Update

 

zamano PLC (AIM:ZMNO, IEX:ZAZ), a leading provider of interactive applications and services to mobile devices, today issues the following trading update.

 

As highlighted in the results announcement on 2 March 2010, the market is going through a period of rapid transition with significant changes to regulation, technologies and billing models, which offers opportunities, as well as presenting challenges and the Group is aligning its business to respond to these changes. However, regulations that took effect in early 2010 had a greater impact than expected on customer acquisition and retention, with trading in the Irish market particularly affected. The UK and Australia markets are also trading below expectations.

 

The Board expects that these trends will continue and therefore 2010 revenues and EBITDA will be materially below market expectations.

 

In response to the rapid market transition, the Group is continuing to invest in the strategic areas described in the preliminary results announcement on 2 March 2010, including:

·; expanding mobile advertising coverage in existing and new markets. Since March 2010 progress includes completing at&t certification, which expands US mobile advertising coverage to 62% of handsets;

·; enhancing the Group's technology platform to deliver new offerings. The Group branded this development New Generation Mobile and as part of this initiative launched two smart-phone applications in April.

 

A further update on trading, including details of the progress being achieved with the strategic initiatives, will be provided at the time of the interim results or as appropriate.

 

For further information, please contact:

zamano plc

John O'Shea, Chief Executive Officer

Tel: +353 1 488 5830

Colm Saunders, Chief Financial Officer

Tel: +353 1 511 1224

 

 

Cenkos Securities

Jon Fitzpatrick

Tel: +44 (0) 131 220 9773

Ken Fleming

Tel: +44 (0) 131 220 9772

NCB Corporate Finance

Conor McCarthy

Shane Lawlor

Tel: +353 1 611 5100

 

Media enquiries:

Edelman

Donnchadh O'Leary

Tel +353 1 678 9333

www.edelman.com

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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