Zamano zips higher as mobile app sales zoom

19th Mar 2015 09:35

Shares in the mobile devices applications group Zamano jumped by nearly 17% after reporting strong full-year results.Revenues rose 23.9% to €19.86m and profits before tax increased 13.5% to €2.2m, driving earnings per share up to 0.019c from 0.017c.The group benefited from the continued global rise in smartphone sales during the period, with the app industry expected to generate revenue from mobile content of $13bn in 2017.Zamano's own business performed strongly in the UK with revenues up 56.5% to €15.2m thanks to the opening of new business relationships and the leverage of direct binds to the mobile network operators.The AIM-listed company, however, admitted it faced a challenging market and regulatory environment in its core products areas.New business wins in the UK carried a lower margin than its conventional mobile marketing products, dragging its gross contribution margin down.Chairman John Rockett said the group intended to remain focused on maintaining its core business but was eyeing acquisition opportunities "to strategically re-align the group".Shares in Zamano were up 16.92% to 9.5p on Thursday at 09:53.