The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGNG.L Share News (GNG)

  • There is currently no data for GNG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

GEONG declines after cautioning on annual income

Thu, 29th May 2014 12:58

AIM-listed GEONG International, an internet solutions software provider declined after saying income was lower than last year's. The Chinese company said that although its trading performance for the year ended March 31st was in line with expectations in constant currency, the appreciation of sterling means revenues were actually around £8.0m, delivering a "very small" profit before tax. "Both the increase of the software as a service (SaaS) revenue and the appreciation of sterling have affected the company's year end trade receivables balance, which is expected to be lower than that of the previous year," a statement from the group read. "The board continues to prioritise the reduction in accrued income."During the second half of the year, GEONG won CITIC Bank and Cinda Group as clients, taking the number of SaaS clients to 28 at the year end. The new client wins are expected to generate revenues in the region of £0.3m during the 12 months to March 31st 2015.The cash balance at March 31st 2014 was £3.6m (net cash £2.0m)."The company is currently making the necessary arrangements to enable it to have sufficient resources capable of being transferred out of China. Market conditions remain challenging, but the board remains confident of GEONG's business model and it's potential," it added. The share price dropped 4% to 3.60p by 13:16. NR
More News
20 Dec 2011 07:06

Geong International on track for year

Chinese internet software solutions provider Geong International said it remains 'cautiously optimistic' of achieving full year market expectations and expects its second half performance to continue much the same as the first half. The Jersey registered and Beijing headquartered firm said pre-tax

Read more
19 Jul 2011 11:01

Geong International to buy social media ad company

Chinese internet software firm, Geong International, has announced it is to buy Hong Kong online marketing company, Adbeyond. It will acquire the entire issued share capital in Adbeyond, which trades as Guru Online, for around HK$120m (£9.6 million). Adbeyond specialises in ad serving and social m

Read more
20 May 2011 08:36

Geong sees FY ahead of expectations

Chinese internet software solutions provider Geong International said full year net profit after tax is expected to be ahead of market expectations. Total revenues for the year ended 31 March 2011 are expected to be around £11m compared to £12.5m the previous year, including SaaS revenue of approxi

Read more
28 Feb 2011 14:40

Small caps round-up: WH Ireland, Norseman Gold, Geong...

Stockbroker WH Ireland made pre-tax loss of £0.3m in the 12 months to November, much less than the £2.1m deficit reported the year before. Turnover fell 25% to £18.4m, but the new financial year has started well, in line with the firm's internal budget and much better than for the previous year.

Read more
2 Dec 2010 10:29

Small caps round-up: Geong, Orosur Mining, XG Technology...

Chinese software and internet solutions provider Geong reported a 28% slump in turnover for the six months ended 30 September to £4.7m, though profits rose 17% to £0.7m. Chief executive Wang Weidong called it a "satisfactory" set of interim results and said the company expects full-year numbers to

Read more
1 Nov 2010 11:06

Small caps round-up: Communisis, Forte Energy, Paragon Diamonds ...

Printing and mail specialist Communisis is confident of meeting full-year expectations as trading in the third quarter matched forecasts and there's good visibility through the fourth quarter "We continue to see a good level of new business opportunities emerging across the company," the group said

Read more
1 Jul 2010 16:00

UK SMALLCAP ROUNDUP: Wills & Co Declared In Default

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps WILLS & CO STOCKBROKERS LTD, a small cap share dealer, has been declared to be in default by the Financial Services Compensation Scheme, four months afte

Read more
1 Jul 2010 12:30

UK SMALLCAP ROUNDUP: Hydrogen Group's 1H Beats Own Views

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps HYDROGEN GROUP PLC (HYDG.LN), a professional recruitment business, Thursday said first-half trading was ahead of its own expectations, boosted in part by

Read more
1 Jul 2010 09:30

UK SMALLCAP ROUNDUP: ABB Drops Chloride Bid

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps ABB LTD. (ABB), a Swiss engineer, Thursday threw in the towel in a bidding war over U.K. industrial company CHLORIDE GROUP PLC (CHLD.LN), increasing the

Read more
1 Jul 2010 09:29

Small caps round-up: Zotefoams, TT electronics, Cape...

Foam maker Zotefoams said trading is ahead of the expectations for the first six months of the 2010."Although we remain cautious that trading conditions in the remainder of the year may be more challenging, we expect profit before tax to be above market expectations for the year as a whole. The gr

Read more
1 Jul 2010 08:20

Geong Intl Secures Up To GBP5M Facility For Acquisitions

LONDON (Dow Jones)--Geong International Ltd. (GNG.LN) said Thursday it has secured a three-year facility of up to GBP5 million to use on acquisitions. The China-based enterprise content management software provider said the facility with Darwin Strategic Ltd. can be drawn down at any time over t

Read more
1 Jul 2010 08:17

GEONG International FY10 Profit Up 34%

LONDON (Dow Jones)--GEONG International Limited (GNG.LN), a China based provider of online business solutions, reported Thursday a 34% increase in pretax profit for fiscal 2010 and said its trading conditions since the year end have been in line with management expectations. MAIN FACTS: -Rev

Read more
2 Dec 2009 07:59

Small caps round-up: Sirius, Catalyst Media, Globus Maritime...

Sirius Petroleum has raised £1.1m through a placing at 6p to cover the costs of due diligence on an as yet unnamed acquisition target and to provide working capital. The fund raising is part of Sirus's strategy to neter joint venture partnerships on marginal fields. Shares in Catalyst Media jumped

Read more
26 Oct 2009 07:31

GEONG on track for FY

China-based content management software provider Geong International said it has made good progress in the first half and it expects to report full year results in line with market expectations. All of GEONG's products and services have shown good growth in the first half whilst third party revenue

Read more
25 Sep 2009 07:50

Geong gives positive outlook

China based Geong International said it is 'extremely' encouraged by the way the year has started and is very positive about its future success. As at end of August, the group's confirmed order book was £13.6m, having grown by more than 25% since 31 March. 'We have significantly increased our num

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.