Editor's Pick: Podcast: Are Gilts the biggest Ponzi scheme ever?
(ZMNO.L) Zamano PLC Buy/Sell
Add to portfolio Set Alert Level 2 Desktop Trader
Summary
|
|
|||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||
| Date/Time | Headline | Source |
|---|---|---|
| 29-09-09 | RNS |
|
|
RNS Number : 8669Z Zamano PLC 29 September 2009 zamano plc ("zamano" or the "Company") Holdings in Company 29 September 2009 This announcement is made pursuant to Rule 17 of both the AIM Rules of the London Stock Exchange and the IEX Rules of the Irish Stock Exchange. On 29 September 2009 the Company was informed by Se?Mac R?oinn that, on 21 September 2009, he disposed of 2,418,000 ordinary shares in the Company and that, following this disposal, he no longer has a disclosable shareholding in the Company. zamano
NCB Corporate Finance
Shane Lawlor Cenkos Securities
This information is provided by RNS The company news service from the London Stock Exchange END
HOLUKSURKBRKUAR More |
||
| 28-09-09 | RNS |
|
|
RNS Number : 7770Z Zamano PLC 28 September 2009 zamano plc ("zamano" or the "Company") Holdings in Company 28 September 2009 This announcement is made pursuant to Rule 17 of both the AIM Rules of the London Stock Exchange and the IEX Rules of the Irish Stock Exchange. On 28 September 2009 the Company was informed by Pageant Holdings Limited ("Pageant") that, on 25 September 2009, Pageant had acquired a total of 930,815 ordinary shares in the Company and that, following this acquisition, it is now the beneficial owner of 9,958,892 ordinary shares in the Company representing approximately 12.28% of the entire issued ordinary share capital of the Company. zamano
NCB Corporate Finance
Shane Lawlor Cenkos Securities
This information is provided by RNS The company news service from the London Stock Exchange END
HOLUWVORKARKUAR More |
||
| 23-09-09 | RNS |
|
This news article is displayed preformatted as it may contain results tables
RNS Number : 5009Z
Zamano PLC
23 September 2009
Press Release 23 September 2009
zamano PLC
("zamano" or "the Group")
Interim Results
zamano PLC (AIM:ZMNO, IEX:ZAZ), a leading provider of interactive applications and services to mobile devices, today announces its interim results for the 6 months ended 30 June 2009.
Mike Watson, Chairman of zamano, commented: "I am pleased to have been appointed Chairman during this exciting time of change and growth in the industry. zamano has all the fundamentals in place to take the business forward, including a strong management team, innovative technology and industry expertise. The short term trading environment is challenging, and a process has been initiated to identify investment opportunities to accelerate the Group's growth plans and to capitalise on its strengths."
John O'Shea, CEO of zamano, added: "Management is making progress on the key actions identified in March 2009 including rigorous evaluation of all operations, tight cost control, cash management and measured investment in growth initiatives. During the period the Group improved gross margins and EBITDA margins, maintained adjusted EPS at 2.3 cents and generated EUR2.1 million of operating cashflow. Revenue declined in the period due to the planned shift to lower volume, higher margin revenue as well as the impact of regulatory change and a weak consumer environment. The Group has identified some areas for future revenue growth, which amongst other initiatives will include smartphone applications."
Highlights:
* Revenue of EUR13.3 million (2008: EUR23.7 million) and gross margin of
32% (H1 2008: 27%)
* Strict investment criteria and cost control supported the increase in
gross margin and underpinned profitability
* EBITDA EUR2.3 million (H1 2008: EUR2.5 million) which was in line with
market expectations
* Adjusted EPS at 2.3 cents (H1 2008: 2.3 cents)
* Generated EUR2.1 million operating cash flow from activities
* Reduced net debt in the 6 months by EUR1.4 million to EUR5.8 million
* Strong growth in the US and Spanish operations, market entry into South
Africa
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 Tel: +353 1 611 5100
Media enquiries:
Abchurch Communications Tel: +44 (0) 20 7398 7700
Heather Salmond / Joanne Shears / Mark Dixon
joanne.shears@abchurch-group.com Tel: +44 (0) 20 7398 7709
mark.dixon@abchurch-group.com Tel: +44 (0) 20 7398 7729
www.abchurch-group.com
Irish Media enquiries:
Edelman
Donnchadh O'Leary Tel +353 1 678 9333
www.edelman.com
CEO's statement
I am pleased to welcome Mike Watson as our new Chairman. Mike's knowledge of the industry is a significant benefit to the Group and we are excited about his vision for zamano. I look forward to working with him to identify opportunities to accelerate the Group's growth plans.
Revenue declined in the UK and Ireland due to the planned shift to lower volume, higher margin revenue and the impact of external factors such as the new regulations in the UK and Ireland, declining effectiveness of print advertising and low levels of consumer confidence being more severe than expected. In the three months since the period end the Irish revenue has stabilised while the decline in UK revenue has slowed.
The Group delivered good performances in the key geographic markets which have been targeted for growth. Its share of the US market grew, with revenue increasing by 44% to EUR1.9 million. Additionally, the Group entered the Spanish market in January 2009 and has quickly established annualised revenues of EUR600,000. In July 2009, the Group entered the South African market and has already established a profitable market position.
There has been a continued shift in the Group's routes to market, with advertising spend on print and television substantially reduced while online and mobile portal advertising spend increased. Total advertising spend is down due to lack of suitable mobile portal advertising inventory. Availability is expected to grow in line with mobile internet usage which is forecasted to grow substantially over the next number of years. This increase is being driven by the adoption of new handsets and the reduction in mobile data charges. The cost of accessing mobile data continues to decline and as it does the Group's customer levels are expected to increase. This was evidenced by Vodafone's free mobile internet day in August, when the Group's customer levels on mobile portals increased four fold.
A new smartphone application team has been put in place to develop both mobile entertainment and corporate applications. The Group is developing and testing new billing mechanisms to take advantage of the convergence between the mobile and fixed line internet. Furthermore, these new devices and billing methodologies break down the traditional model of mobile network operator billing, and thereby allow the Group to target customers globally, as evidenced by zamano's first iPhone application selling 30,000 copies in 45 countries.
The Group is continually realigning resources and skillsets towards developing new revenue streams. While strict cost control measures are in place, the Group has increased its headcount in research and development during 2009 to help ensure it has the skills and products to take advantage of growth opportunities.
Market Review
The overall market for the provision of interactive applications and services to the mobile is expected to grow over the next three years. This growth is being driven by a number of factors including new mobile billing methodologies, increased adoption of smartphone handsets and reduced data charges. zamano has diverted resources towards supplying this emerging element of the market.
The market for the Group's traditional billing model of Premium Rate SMS declined in Ireland and the UK in H1 2009 due to regulatory change and declines in consumer confidence. In the UK, zamano's market position slipped from number five to number seven as a result of a shift to higher margin business model and the reduced effectiveness of the Group's traditional routes to market such as print advertising. In Ireland, zamano increased its market share driven by a number of new customer wins as the Group continues to build on its strong leadership position.
The type of content that the Group delivers has changed dramatically over the last 12 months. Mobile ringtones and wallpapers are being replaced by interactive mobile applications, games, competitions and corporate solutions which allow the Group to take advantage of the increasing capabilities of mobile devices.
Financial Review
Revenue was down by EUR10.4 million from H1 2008 to EUR13.3 million due to declines in the traditional markets: EUR8.8 million in the UK, EUR1.7 million in Ireland and EUR0.6 million in Australia. These declines were partly offset by growth in the US and Spain.
The Group's gross margin increased to 32%, which is up 5 percentage points on the same period in 2008 reflecting the increased focus on higher margin revenue and strict metrics for measuring advertising effectiveness.
The Group's EBITDA declined by 7% to EUR2.3 million, on a constant currency basis the decline was only 3%. EBITDA margin increased to 17%, up 7 percentage points on same period in 2008 reflecting the effect of higher gross margin and reduced operating costs.
Cost management remains strong as evidenced by the fact that administrative expense were reduced by 47% to EUR2.1 million; reflecting strong controls and the benefit of research and development credits. Management continues to maintain its focus on cost reduction, with a number of initiatives underway such as a platform virtualisation project which will reduce platform management costs by 65% in 2010.
Cash generation in the Group continues to be strong, with EUR2.1 million of positive cash-flow from operating activities in the first 6 months of the year. At 30 June the Group had cash of EUR6.0 million and EUR11.8 million of debt, which is a net debt of EUR5.8 million. The Group paid down EUR1.2 million of debt in the six month period.
Outlook
Despite the short term challenges, the Board has confidence in the medium and long term prospects of the industry, and is excited about the high growth areas and the opportunities that they present. The broader industry is growing, and we look forward to refining our strategy and building on our fundamental strengths to capitalise on the expected significant growth in the industry.
John O'Shea
Chief Executive Officer
22 September 2009
Unaudited condensed consolidated income statement
for the half-year ended 30 June 2009
Half - year ended Half-year ended 30 June 2008
30 June
2009
Notes
EUR'000 EUR'000
Revenue 4 13,332 23,723
Cost of sales (9,024) (17,396)
Gross profit - continuing 4,308 6,327
activities
Other administrative expenses (2,082) (3,929)
Depreciation (74) (47)
Amortisation of intangible (1,203) (1,202)
assets
Total administrative expenses (3,359) (5,178)
Operating profit 4 949 1,149
Finance income 37 160
Finance expense (379) (636)
Profit before tax 607 673
Income tax credit/ (expense) 5 15 (157)
Profit for the period - all 622
attributable 516
to owners of the company
Earnings per share
- basic 6 EUR0.008 EUR0.006
- diluted 6 EUR0.007 EUR0.006
Unaudited condensed consolidated balance sheet
at 30 June 2009
30 June 31 December 30 June
2009 20081 2008
EUR'000 EUR'000 EUR'000
Assets
Non-current assets
Property, plant and equipment 202 262 305
Intangible assets 20,549 21,397 27,361
Deferred tax asset 55 45 44
20,806 21,704 27,710
Current assets
Trade and other receivables 4,749 5,943 8,948
Income tax recoverable 10 15 -
Cash and cash equivalents 5,957 5,744 5,137
10,716 11,702 14,085
Total assets 31,522 33,406 41,795
Equity
Share capital 81 81 81
Share premium 11,156 11,156 11,155
Capital conversion reserve 1 1 1
Foreign translation reserve (56) (80) (40)
Share-based payment reserve 499 424 341
Retained earnings 1,653 1,031 5,351
Total equity 13,334 12,613 16,889
Liabilities
Non-current liabilities
Loans and borrowings 8,690 10,703 11,586
Deferred tax liability 133 268 424
8,823 10,971 12,010
Current liabilities
Trade and other payables 4,894 6,232 8,279
Business combination accrual 17 1,343 1,373 2,368
Loans and borrowings 3,076 2,211 1,755
Income tax payable 52 6 494
9,365 9,822 12,896
Total liabilities 18,188 20,793 24,906
Total equity and liabilities 31,522 33,406 41,795
1 Amounts at 31 December 2008 are derived from the 31 December 2008 audited financial statements.
zamano plc and subsidiaries
Unaudited condensed consolidated cash flow statement
for the half-year ended 30 June 2009
Half-year ended Half-year ended
30 June 30 June 2008
2009
EUR'000 EUR'000
Cash flows from operating activities
Profit before tax 607 673
Adjustments to reconcile profit for the
period
to net cash inflow from operating
activities
Depreciation 74 47
Amortisation of intangible assets 1,203 1,202
Share-based payments expense 75 89
Foreign exchange 24 (21)
Decrease in trade and other receivables 1,193 240
Decrease in trade and other payables (1,449) (590)
Finance income (37) (160)
Finance expense 379 636
Cash generated from operations 2,069 2,116
Interest paid (10) (11)
Income tax paid - (256)
Net cash inflow from operating activities 2,059 1,849
Cash flows from investing activities
Payment of deferred consideration on -
acquisition of (7,290)
subsidiaries
Purchase of property, plant and equipment (14) (177)
Purchase of intangible assets (353) (9)
Interest received 37 185
Net cash outflow from investing (330) (7,291)
activities
Cash flows from financing activities
Repayment of debt (1,516) (1,525)
Net cash outflow from financing (1,516) (1,525)
activities
Net increase/(decrease) in cash and cash 213 (6,967)
equivalents
Cash and cash equivalents at 1 January 5,744 12,104
Cash and cash equivalents at 30 June 5,957 5,137
Notes to the half-yearly condensed consolidated financial statements (unaudited)
1 Reporting entity
zamano plc is a limited company incorporated and domiciled in Ireland whose shares are publicly traded on the Alternative Investment Market (AIM) in London and the Irish Enterprise Exchange (IEX) in Dublin.
The half-yearly condensed consolidated financial statements of zamano plc as at and for the six months ended 30 June 2009 consist of the results and financial position of the company and its subsidiaries together referred to as "the group." The principal activities of the group are the provision of mobile data services and technology.
2 Statement of compliance
These half-yearly condensed consolidated financial statements (the "half-yearly financial statements") have been prepared in accordance with International Financial Reporting Standard (IFRS) IAS 34 "Interim Financial Reporting", as adopted by the EU. They do not include all of the information required for full annual financial statements and should be read in conjunction with the most recent published financial statements of the group. The comparative figures included for the year ended 31 December 2008 do not constitute statutory financial statements of the group within the meaning of the European Communities (Companies: Group Accounts) Regulations 1992. The consolidated financial statements for the year ended 31 December 2008 are available at www.zamano.com. The auditor's report on those financial statements was unqualified.
These condensed consolidated financial statements were approved by the Board on 22 September 2009 and are available at www.zamano.com.
3. Estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting polices and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. In preparing these half-yearly condensed financial statements, the significant judgements made by management in applying the group's accounting policies and the key sources of estimation uncertainty were the same as disclosed in note 4 to the most recent published annual consolidated financial statements.
4. Segment information
zamano facilitates communication and interaction between companies and consumers on mobile phones through a range of value-added mobile applications (B2B). zamano also develops, promotes and distributes mobile content and interactive services directly to consumers (D2C).
The group's operations are not significantly impacted by seasonal fluctuations.
Half-year ended 30 June 2009 B2B D2C Total
EUR'000 EUR'000 EUR'000
Revenue from external customers
Ireland 3,969 2,731 6,700
UK 917 3,068 3,985
USA - 1,859 1,859
Australia - 678 678
Spain - 110 110
Total revenue 4,886 8,446 13,332
Segment results 986 2,361 3,347
Unallocated expenses (2,398)
Operating profit 949
Net finance costs (342)
Profit before tax 607
Income tax credit 15
Profit for the period 622
Half-year ended 30 June 2008 B2B D2C Eliminations Total
EUR'000 EUR'000 EUR'000 EUR'000
Revenue
Ireland 4,517 3,860 - 8,377
UK 2,000 10,763 - 12,763
USA - 1,287 - 1,287
Australia - 1,296 - 1,296
Sales to external customers 6,517 17,206 - 23,723
Inter-segment sales 11 908 (919) -
Total revenue 6,528 18,114 (919) 23,723
Segment results 1,259 3,678 - 4,937
Unallocated expenses (3,788)
Operating profit 1,149
Net finance costs (476)
Profit before tax 673
Income tax expense (157)
Profit for the period 516
5. Income tax credit/expense
The major components of the income tax (credit)/expense in the half-year consolidated income statement are:
Half-year ended Half-year ended
30 June 30 June
2009 2008
EUR'000 EUR'000
Current tax
Irish corporation tax 153 272
Foreign tax 2 32
(Over)/under provision in prior year (20) 15
135 319
Deferred tax
Movement in deferred tax amounts for the (150) (162)
period
Income tax (credit)/expense (15) 157
6. Earnings per share
Basic earnings per share amounts are calculated by dividing net profit for the half-year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share amounts are calculated by dividing the net profit attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. The following reflects the income and share data used in the basic and diluted earnings per share computations:
Half-year ended Half-year ended
30 June 30 June
2009 2008
EUR'000 EUR'000
Net profit attributable to equity holders 622 516
of the company
Half-year ended Half-year ended
30 June 30 June
2009 2008
000's 000's
Basic weighted average number of shares 81,930 81,662
Dilutive potential ordinary shares:
Employee share options 2,398 3,702
Diluted weighted average number of shares 84,328 85,364
7 Adjusted earnings per share
The following reflects earnings per share based on adjusted net income:
Half-year ended Half-year ended
30 June 30 June
2009 2008
EUR EUR
Adjusted basic EPS 0.023 0.024
Adjusted diluted EPS 0.023 0.023
Adjusted net income is calculated as: Half-year ended Half-year ended
30 June 30 June
2009 2008
EUR'000 EUR'000
Profit after tax 622 516
Share-based payments expense 75 89
Interest on deferred consideration - 145
Amortisation of intangible assets 1,203 1,202
1,900 1,952
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR FLLLLKKBZBBV
More |
||
| 22-09-09 | RNS |
|
|
RNS Number : 4948Z Zamano PLC 22 September 2009 zamano plc ("zamano" or the "Company") - Holdings in Company 22 September 2009 This announcement is made pursuant to Rule 17 of both the AIM Rules of the London Stock Exchange and the IEX Rules of the Irish Stock Exchange. On 22 September 2009 the Company was informed by Pageant Holdings Limited ("Pageant") that, on 21 and 22 September 2009, Pageant had acquired a total of 7,638,658 ordinary shares in the Company and that, following these acquisitions, it is now the beneficial owner of 9,028,077 ordinary shares in the Company representing approximately 11.14% of the entire issued ordinary share capital of the Company. zamano
NCB Corporate Finance
Shane Lawlor Cenkos Securities
This information is provided by RNS The company news service from the London Stock Exchange END
HOLUUONRKRRKUAR More |
||
| Date/Time | Subject | Author | ||
|---|---|---|---|---|
| 02-10-09 | ||||
|
| ||||
|
| ||||
|
somebody actually bought a decent amount of shares today. well done.
More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
||||
| 07-05-09 | ||||
|
| ||||
|
| ||||
| 04-05-09 | ||||
|
| ||||
|
| ||||
|
had a nice and quiet 10 mins then. im happy for you.
More | View thread (11) | Respond | Login to Vote up | Login to Vote down |
||||
| 03-05-09 | ||||
|
| ||||
|
| ||||
|
:£ :$ :% ;£
More | View thread (11) | Respond | Login to Vote up | Login to Vote down |
||||
;)
o<
The contents of the postings summarised here represents the opinions of the authors and not of Interactive Investor Trading Limited.
They have not been approved or issued by Interactive Investor Trading Limited.
They have not been approved or issued by Interactive Investor Trading Limited.
Discussion Board Terms & Conditions FSA Market Abuse Fact Sheet
More...