Zamano notes mixed H1 trading, upbeat on sales and cash generation

25th Aug 2016 13:08

(ShareCast News) - Zamano said its overall trading was mixed in the first half, but noted significant increases in both sales performance and cash generation."This was offset by falling margins due to increased investment in advertising, a changing sales mix in the UK and some foreign exchange headwinds," said acting chairman Colin Tucker.The company anticipate an improvement in operating performance during the second half, on the back of advertising spend and continuing strong UK sales performance in the first six months.Zamano booked a first-half pretax profit of €794,000, down 30.7% from €1.1m. Revenue was up 80.2% to €18.7m, from €10.4m."The 36% jump in our net cash position (to €7.43m) is very welcome as it provides us with a solid platform to implement our acquisition strategy," said tucker.The company provides interactive applications and services to mobile devices.