Mobile phone services group Zamano has reported a pre-tax loss of €6.3m for the first six months of this year, after a profit of €600,000 a year earlier.
This was mainly due to a €6.5m charge mainly linked to the falling value of acquisitions it made in 2007.
Revenue dropped from €13.3m a year earlier to €8.75m, while earnings before interest, tax, depreciation and amortisation more than halved to just under €1m.
Zamano CEO John O'Shea said the market continued to be tough for the group, but it completed a restructuring programme in the first half. He said initial signs in the third quarter of the year were positive with 'stability achieved and new opportunities identified'.
But chairman Mike Watson said there were still months of effort ahead before a clearer picture of Zamano's long-term prospects became clear.
Zamano recently signed a deal with Setanta Sports to deliver English Premier League goals to mobile phone users.
