30th Apr 2015 08:02
LONDON (Alliance News) - Globo PLC Thursday expressed confidence that 2015 will be a "year of significant progress", as it posted a rise in pretax profit for 2014.
The mobile software and services company posted a pretax profit of EUR35.7 million, up from EUR27.4 million a year before, as revenue rose to EUR106.4 million from EUR71.5 million.
Revenue growth was driven by a strong performance from its mobile segment, with revenue from its GO!Enterprise products and project services rising 94%, consumer mobile products and services up 10.6%, and from its software-as-a-service segment up 34.7%.
During the year the company switched its emphasis from channel and partner sales to direct sales, particularly in the US. It has established headquarters in Palo Alto. Globo plans to establish a new development centre in Pittsburgh, with the aim of taking advantage of "the pool of university talent available".
Last June Globo acquired the services division of San Francisco-based mobile application developer Sourcebits. The acquisition contributes revenue of EUR2.1 million during the year.
Globo said that the strong momentum it saw in 2014 has continued into the first quarter of 2015. It will focus on expanding its US revenue and market presence during 2015, both organically and potentially through acquisitions.
"After a strong start to 2015, we are well positioned to continue on the trajectory of the previous year," said Chief Executive Officer Costis Papadimitrakopoulos in a statement.
Shares in Globo are trading up 9.1% at 52.35 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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