Zamano sales up 19pc, but no news on takeover

16th Sep 2015 16:41

(ShareCast News) - Zamano on Wednesday reported a 19.3% increase in sales for the period ending 30 June, up to €10.404m from €8.718m.The interactive mobile app and services provider also saw an 8.49% increase in gross profit to €2.582m.It also continued to improve its balance sheet position, with cash of €5.435m, compared to €2.973m last year.Chief executive Ross Conlon said the results were "highly satisfactory"."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."Conlon said the company had also commenced a process to gradually overhaul its UK customer acquisition model."[It] will give us greater in-house capabilities and flexibility in terms of the way we address this market."The results also stated there was no update on the preliminary takeover bid from August.Zamano announced on 3 August that it had received a preliminary and highly conditional approach regarding a possible offer of €0.20 per share conditional on, amongst other things, confirmatory due diligence.The company stated there's no certainty that any offer will be made nor as to the terms of any offer, but further announcements will be made as appropriate.