LONDON (Alliance News) - Globo PLC Monday said its pretax profit increased in the recent half, buoyed by a significant increase in its international revenues.
Cloud computing company Globo said it made a EUR14.5 million pretax profit for the six months to June 30, up 74% from the EUR8.3 million pretax profit for the corresponding period the year prior.
The pretax profit increase was thanks to a 52% increase in revenues to EUR32.0 million, mostly made up by international revenues of EUR28.4 million, which themselves increased 74%.
"Globo's growing reputation in consumer and enterprise mobile markets around the world is being translated into a strong, profitable trading performance. Demand for our market-leading products and services is being supported by positive market trends, particularly Bring Your Own Device, and we are continuing to invest in R&D to strengthen our competitive edge," Chairman Barry Ariko said in a statement.
"The potentially substantial contribution from Enterprise Mobility in a Box and Go!Enterprise 247 cloud offering and the positive trading so far in the normally strong second half, have increased our confidence in achieving market forecasts for the full year," Ariko added.
A good portion of the revenue was generated from mobile communication services CitronGO! and GO!Social, which made EUR17.9 million in revenues in 32 countries, an increase of 22%.
Globo also said that GO!Enterprise, which enables employee-access to email, files, contacts, calendar, tasks and notes from any mobile device, saw its revenues increase 132% to EUR10.2 million, driven by the bring-your-own-device trend and demand for mobile applications.
"Bring your own device" refers to the policy where by companies, schools and universities allow employees and students to use their own mobile devices to access information and applications.
Globo secured a North American distribution agreement for cloud computing product GO!Enterprise with Ingram Micro Inc., the world's largest IT and mobility distributor, while Globo also secured partnerships and alliances with IBM and Fujitsu. Globo won customers including Mercedes Benz, Estee Lauder, and Dixons.
Globo shares were Monday quoted at 65.72 pence, up 3.97 pence, or 6.4%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
