1st Nov 2010 07:00
1 November 2010 GEONG International Limited ("GEONG" or "the Company") Trading Update
The Directors of GEONG International Limited (AIM: GNG), the AIM listed China based provider of enterprise content management (ECM) software and solutions, are pleased to report that trading in the first half of the year is in line with expectations. During the period, GEONG has signed a 2 year agreement with IBM and has become a significant business partner with Oracle in delivering its SaaS business.
Margins increased during the first half as the SaaS business continued to grow and GEONG continued to attract higher margin business in South Asia. The Directors believe that margins will remain strong.
The encouraging success in securing higher margin business is a vindication of the Company's strategy. Against this background and taking into account the order book and the Company's continued emphasis on working capital management, the Directors believe that the Company is well placed to meet market expectations for the year as a whole.
For further information, please contact:
GEONG International Limited Henry Tse, Chairman Tel: +86 10 5222 0999 Weidong Wang, CEO Amit Thakar, CFO Evolution Securities Limited Tel: +44(0)20 7071 4300
(Nominated Adviser and Joint Broker)
Barry Saint Esther Lee
About GEONG International Limited
Operational since 2000, GEONG specialises in collaboration and content management software and services. Its products are specifically tailored for the Chinese market, where the Company is recognised by Government agencies and numerous blue chip clients as a leader in its field.
GEONG was named The Most Successful Enterprise in ECM Software in China 2007 to 2008 by China's Centre for Information Industry Development and CCID Consulting; and one of the fastest growing companies in Asia at the Deloitte Technology Fast 50 China and Deloitte Technology Fast 500 Asia Pacific awards. The Company has recently expanded into North America setting up operations in Canada.
Registered in Jersey, the Company's operations are headquartered in Beijing. The Company's shares were admitted to AIM in June 2006 and trade under the ticker GNG.L.
For more information, please visit www.geong.com
vendorRelated Shares:
GNG.L