LONDON (Alliance News) - Globo PLC Wednesday said it saw pretax profit rise in 2013, driven by strong revenue growth from its mobile software products GO!Enterprise.
The mobile and telecom software and services company posted a pretax profit of EUR27.4 million, up from EUR17.2 million in 2012, as revenues rose to EUR71.5 million from EUR46 million.
Revenue growth was driven by a strong performance from its GO!Enterprise software suite, which saw revenues more than double to EUR29.9 million from EUR12 million.
Its consumer mobile products and services CitronGO! and GO!Social saw revenue rise to EUR34.8 million from EUR29.1 million, as the customer base for the products rose to 2.98 million active monthly users from 2.23 million in 2012.
Globo said its strong momentum in 2013 continued into the first quarter of 2014, when it traded in line with expectations.
The company said it will focus on further expansion in 2014 through both organic growth and selective acquisitions, particularly in North America where it has identified "promising opportunities."
Globo will invest in its sales and marketing to grow its customer base and develop further brand recognition, it said, and will also focus on direct sales to end users in 2014.
"We have had a good start to 2014 and look forward to continuing to grow the business internationally this year," said Chief Executive Officer Costis Papadimitrakopoulos in a statement.
Globo acquired Notify Technology Inc for USD5.3 million during the year. The company said that Notify has been successfully integrated and had added around 60 new employees to its US subsidiary.
Shares in Globo were trading up 12% at 52.00 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
