26th Oct 2009 06:00
26 October 2009 GEONG International Limited ("GEONG" or "the Company") Trading Update
GEONG International Limited (AIM: GNG), the AIM listed China based provider of enterprise content management (ECM) software and solutions, is pleased to provide an update on trading for the six months ended 30 September 2009.
GEONG has made good progress in the first half of the financial year with trading proceeding in line with market expectations for the full year. As at end of September 2009 the Group's confirmed order book was 13.8 million compared to 9.6 million for the comparable period in 2008 and 10.6 million as at 31 March 2009.
The Company's margins rose slightly in the first half. However, the Board expects margins to stabilise going forward. All of GEONG's products and services have shown good growth in the first half whilst third party revenue has declined slightly.
GEONG has a strong balance sheet with no debt and there is a continuing focus on working capital management. As at 30 September 2009 net cash balances amounted to 2.4 million, compared to 0.5 million a year ago and 3.6 million as at 31 March 2009. The current net cash balance is 4.5m following completion of the recent successful fund-raising.
The Company will be announcing its interim results for the six months ended 30 September 2009 on 2 December 2009.
For further information, please contact:
GEONG International Limited www.geong.com Tel: +86 10 5222 0999Henry Tse, ChairmanWeidong Wang, CEOAmit Thakar, CFOSeymour Pierce Tel: +44 (0)20 7107 8000John DepasqualeICIS Tel: +44 (0)20 7651 8688Bob HuxfordHilary Millar
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