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Globo
- BY: Andrew Hore |
- POSTED: 16/07/2008 |
Athens-based Globo grew strongly in the first half of 2007 and has a record order book.
The e-business software supplier grew pro forma revenues by more than 70% in the six months to June 2008, while slightly improving profit margins. The first half is always quieter than the second half which is when Globo tends to make most of its profits.
New business has been won from the Greek government. Globo is growing outside of Greece. It is establishing businesses in Romania, Cyprus and Bulgaria.
The order book at the end of June was €9.3m, against €3.6m at the end of 2007. Most of this should be delivered before the end of 2008. Globo generated revenues of €6.94m in the six months to December 2007. Globo is already well on its way to beating that figure this year.
Globo joined Aim on 14 December 2007 and it raised £3.12m (£2.24m net) at 20p a share. The shares rose 0.25p to 13.5p on the back of the trading statement, valuing Globo at £17.6m.
The interim figures will be published in September.
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