29th Sep 2014 08:57
LONDON (Alliance News) - Globo PLC said Monday it expects to see its strong business momentum to continue into the second half, benefiting from its continue expansion in the US, as it saw profit rise in the half year to end-June.
The telecom, mobile software and services company posted a pretax profit of EUR16.1 million, up from EUR14.5 million a year before, as revenue rose to EUR46.5 million from EUR32.0 million, although this was somewhat offset by higher operating expenses.
Globo invested EUR12.7 million into product development and infrastructure in the period, mainly relating to its mobile products and services, compared to EUR6.0 million a year before.
The company said its Enterprise and Consumer mobile product lines both continued to deliver growth. Its GO!Enterprise software platform saw revenue rise to EUR19.9 million, and its consumer mobility products CitronGo! and GO!Social delivered revenue of EUR20.1 million, up from EUR17.9 million.
GO!Enterprise has benefited from the growing 'bring your own device' trend in business, as well as continued demand for smartphones and tablets. During the half year, the company expanded its product line in this area, launching GO!AppZone Studio and GO!Enterprise WorkSpace.
It is planning to expand its GO!AppZone products by introducing GO!AppZone cloud services in October.
Globo acquired San Francisco-based mobile application developer Sourcebits Inc in June, which it said has added user interface software capability to its operations, and enhanced the scale of its mobility business solutions division. Globo has continued to expand its operations in the US following its acquisition of Notify Technology Inc last year.
"Globo continues to invest in developing new products to strengthen our offering, and I am confident that Globo is well positioned to continue the positive growth story reflected in these results," said Chief Executive Costis Papadimitrakopoulos in a statement.
Shares in Globo were trading down 3.0% at 45.85 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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