Zamaz loss multiplies, revenue down in final year as private company

(Alliance News) - Zamaz PLC on Monday said loss multiplied and revenue was down during its final year as a private company.

Pretax loss in the financial year that ended August 31 multiplied to GBP1.3 million from GBP480,000 a year earlier, while revenue was down 19% to GBP1.7 million from GBP2.1 million.

The London-based technology e-commerce firm listed on the main market of the London Stock Exchange in September.

Despite the "distractions" of listing, Chair Martin Groak said most of the year was spent focussing on strategic building blocks for future success, starting with the acquisition of Italian gourmet food online retailer Bella Dispensa Srl in September 2021

Zamaz also announced two acquisitions post-financial year, agreeing to acquire the entire share capital of premium meats seller Ecocarni Srl in September, alongside a 70% stake in luxury food provider Eccellenze in October.

"Brand building, quality brand acquisition and aggregation, coupled with e-commerce and data-mining expertise make a very potent commercial offering that is totally relevant to the direction of buying habits around the world," said Groak.

He continued: "Zamaz is unique on the London Stock Exchange, being the first company of its type to have listed on the main market. Good quality companies that want to join us see the value of a listing, where, instead of having to rely solely on debt - and its current uncertainties - equity can be part of the funding mix for growth."

Shares in Zamaz last traded at 11.00p on Friday morning, up 16% since listing in September.

By Greg Rosenvinge; [e-mail]

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