Cost reductions boosted cash flow and cut losses at listed mobile and internet service and content provider Zamano in 2011.

The company yesterday reported that revenues in 2011 fell to €15 million from €15.8 million the previous year. At the same time pre-tax losses plummeted to €585,000 last year from €13.3 million in 2010.

Early last year the company cut staff and closed a number of loss-making revenue lines. In a statement Zamano said yesterday that as result of these measures its core business was now running efficiently “albeit in a difficult environment”.

Revenues from its Irish and Spanish businesses fell during 2011, but the company said it made good ground in the UK, where sales grew by 61 per cent.