LONDON (Alliance News) - Shares in Globo PLC rose Thursday morning, after the company said it has seen a strong start to the year and is currently trading ahead of market expectations.
The mobile telecommunications software and services company said that growth in the business in the five months to end of May has been driven by increasing GO!Enterprise revenues, continued growth in its consumer CitronGO! business and new enterprise customer and partner wins.
In a statement ahead of the company's annual general meeting Thursday, Globo said its focus this year remains on investments in research and development, expansion and infrastructure.
"Our focus and investment in innovation continues in 2014, and we look forward to further expansion in mature geographies, such as the United States. We remain very optimistic for 2014," said Chief Executive Costis Papadimitrakopoulos in the statement.
Globo also announced a new project win in Australia, after being selected as the provider of technology and services for a multi-year governmental mobile health project in Australia. It said it is part of a consortium led by an Australian mobile operator and its partner Mobilise IT. Globo said the project will initially offer secure and standard-compliant mobile iPad apps to more than 10,000 doctors for access to medical records and assessing requirements for preventative medicine.
Globo said the project is expected to contribute to a significant number of GO!Enterprise licenses and consulting and professional services revenues for the business.
"We regard this project win in Australia as a significant validation of our drive for a worldwide footprint for GO!Enterprise marketing and revenue, both in terms of geographic reach and scale," said Non-Executive Chairman Barry Ariko.
Globo shares were up 1.3% at 59.25 pence Thursday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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