But cost cutting puts Irish firm into profit.
zamano, which provides billing and messaging services as well as running some D2C operations, posted revenue of €25.1 million in FY 2009, against €41.4 million for 2008.
Profit after tax improved to €1.1 million. In 2008 the group posted a loss €3.8 million.
It was hit hard by a slump in the UK market, which drove 80 per cent of the decline. This was partly offset by organic revenue growth in the US, Spain and South Africa.
Mike Watson, chairman of zamano, said: “In a difficult environment we successfully managed cash reserves, and despite a decline in revenue, the group increased profits.
"The mobile market is going through a period of rapid transition, which offers the Group tremendous opportunities, as well as presenting challenges."
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In December 2009 zaman raised €2.5 million to support a drive into new areas.
