Zamano, a Dublin-listed provider of interactive applications and services to mobile devices, has reported a full-year pre-tax profit of €2.4 million, up 12.9 per cent on the €2.2 million recorded in 2014.

Revenues were up 22.3 per cent to €24.3 million from €19.9 million while earnings before interest, tax, depreciation and amortisation (ebitda) rose 9.5 per cent to €3 million, versus €2.7 million a year earlier.

The group saw a significant improvement in net cash over the year with €6.3 million at the end of December 2015, compared with €4.6 million in the preceding year.

Chief executive Ross Conlon said the group examined a number of opportunities in mobile media, payments and messaging last year with a view to growing the business and diversifying its product and service base.

“In 2016, it remains an ongoing objective of the group to find acquisition or partnership opportunities for the business in the web and mobile marketing space.” Mr Conlon said.

Ireland and the UK continued to account for a significant proportion of overall group sales last year, Mr Conlon said.

While UK sales were ahead of expectations and also benefited from favourable foreign exchange rates, Irish sales were somewhat down on 2014. Sales in Australia and other smaller territories also failed to reach the numbers achieved in 2014.

UK sales totalled €20.5 million, up 35 per cent on the €15.2 million reported in 2014. Irish sale declined by 14.2 per cent to €3.1 million, however, Zamano said the rate of sales decline had stabilised.

Zamano said in October that talks over a takeover of the company, with an offer price of €0.20 per share, had collapsed. The firm had reportedly received a number of informal approaches since then, although nothing concrete has emerged as yet.