LONDON (Alliance News) - Globo PLC Tuesday reported a rise in pretax profit for its first half, as revenue growth was boosted by new contract wins and it continued its expansion in the US.
Globo provides mobile and software-as-a-service products.
For the half year to end-June the company reported a pretax profit of EUR22.0 million, up from EUR16.1 million a year before, as revenue rose to EUR72.4 million from EUR46.5 million, although this was partly offset by a rise in distribution and administrative expenses.
Globo continued to expand its US operations, upping headcount in the region and establishing a new software development centre in Pittsburgh, Pennsylvania. Revenue in the US increased to EUR15.2 million from USD2.1 million a year before.
The company said it has been targeting a series of acquisitions since the end of 2014, and hopes to progress some of these over its coming months. Following the half-year end the company proposed a EUR14 million acquisition of a bring-your-own device and mobile security software provider based in Europe, which it expects to be completed in October.
"We remain committed to increasing shareholder value, both through organic growth and strategic investments in technology, expertise and market reach," said Chief Executive Officer Costis Papadimitrakopoulos in a statement.
Shares in Globo were up 8.5% at 37.98 pence Tuesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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