LONDON (Alliance News) - Globo PLC Tuesday said its performance in the first half of 2015 was ahead of market expectations, and it expects the successes it saw in the first half to continue throughout the remainder of the year.
The mobile products and software-as-a-service provider said its earnings before interest, tax, depreciation and amortisation rose 55% to EUR34.2 million in the first half, increased from EUR22.0 million, as revenue rose 56%.
Its gross profit margin increased to 59.2% from 58.0% due to an increased proportion of direct sales, the company said.
Revenue from its GO!Enterprise software rose to EUR44.9 million from EUR19.9 million a year before, whilst revenue from its CitronGO!/GO!Social products rose to EUR21.3 million from EUR20.1 million, and its telecoms and software-as-a-service revenue rose to EUR5.0 million from EUR4.3 million.
Globo reiterated that it remains well-prepared to weather any hit from the current situation in Greece, citing reduced revenue exposure from Greece, an expected reduction in its cost base in the scenario that Greece reverts to a local currency, and only around EUR100,000 held in Greek bank accounts amongst other measures.
"During the first half of 2015 we have demonstrated our ability to execute and expand our market footprint and continued to receive industry recognition. Our US and international expansion underpins our growth as we are focusing operationally and from a marketing perspective on the most mature economies globally," said Chief Executive Officer Costis Papadimitrakopoulos in a statement.
Shares in Globo were up 3.7% at 49.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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