Monday June 16, 08:49 AM
Geong FY pretax up 28 pct; wins 4 contracts worth 648,000 pounds in China UPDATE
(Adds further details on outlook, acquisition plans)
LONDON (Thomson Financial) - Geong International Ltd. said it has made a good start to the current year, as it unveiled an increase in its pretax profit for the year to end-March
2008.
The AIM-listed software company said its pretax profits rose 28 percent to 1.14 million pounds, while revenues climbed 77 percent to 7.61 million pounds.
It added it has a strong order book for 2009 and aims to increase the percentage of recurring revenues.
The company said it is confident the trend of strong growth will continue into 2009 and beyond.
Separately, the company said it won four contracts with second tier banks across China worth a total of 648,000 pounds, which will be recognised in the March 2009 results.
Geong said it will continue to pursue potential acquisitions, including the acquisition of a Microsoft (NASDAQ: MSFT - news) .Net based ECM software and solutions provider.
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