News blog
Globo
- BY: Andrew Hore |
- POSTED: 16/06/2009 |
Globo is performing in line with expectations and has reduced its borrowings.
That sparked a 0.5p rise in the shares to 10.5p, which values the Athens-based e-business software and services provider at £13.7m.
Revenues have been in excess of the same period in 2008. There are €6.7m of orders due to be delivered in 2009. Globo’s CitronGO! mobile application will start to generate revenues this year.
Revenues grew 63% to €17.9m in 2008 and pre-tax profit improved 36% to €2.86m.
Net debt has reduced by €1.19m to €8.64m at the 12 June 2009.
The shares are trading at five times forecast earnings for 2009.
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