Mobile commerce company Zamano has reported a 4.7% fall in half yearly revenues, while its operating profits rose.
Revenues for the six months to the end of June fell to €9.019m from €9.46 million the same time last year, but operating profits rose by 14% to €1.245m from €1.088m.
Zamano said its Irish sales - which are largely made up of non-subscription and business to business services - fell by 41.6% to €2.179m from €3.735m mainly due to a new ComReg code of practice.
But its UK operations performed well in the six month period, with sales up 33% to €5.570m. The company cautioned that while the UK remains its most important sales territory, it is a very regulated market.
''This will make it more difficult for Zamano to sustain the recent growth achieved in this region,'' it added.
The company's chief executive Pat Landy said the group's improved balance sheet position gives it a platform to grow and diversify the business during the second half of 2013 and beyond.