News for rise????????7 Jan 2013 21:52
GEONG International Limited (AIM: GNG), a leading internet software solutions provider and operator for large enterprises in China is pleased to provide the following update on its current trading.
Since the announcement of the 2012 full year results economic conditions have remained stagnant due to the uncertainty in European markets and a general slow down in investment activities in China. As a consequence, the Company expects to report revenues for the six months ended 30 September 2012 slightly below the corresponding period of last year. However, margins have remained broadly in line with last year.
The Company has continued to gain new contracts, winning four new customers in the IaaS division and generating two new contracts in the SaaS division since the beginning of the year. This takes the number of SaaS clients to 20 and increases the level of regular revenue. The value of the new business won during the period is in the order of GBP1.1 million, part of which will contribute to earnings in the second half of the year.