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Newsdesk Corporate/financial news 2ergo announces increase in turnover and profit
Newsdesk Corporate/financial news 2ergo announces increase in turnover and profit 
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| 2ergo announces increase in turnover and profit |
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| Thursday, 22 November 2007 | |
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2ergo has announced preliminary results for the year ended 31 August 2007 with highlights as follows: · Turnover up 13% to £33.3 million (2006: £29.5 million). · Increase in gross profit of 45% to £8.6 million (2006: £5.9 million) with gross margins increasing from 20% to 26%, ahead of expectations. · Underlying, like-for-like profits from continuing activities, excluding FRS 20 charge, the costs associated with Broca prior to demerger and the losses and costs following the acquisition of Proteus Inc., up 45% to £4.2 million (2006: £2.9 million). · Acquisition of Proteus with offices in · Sales teams in · Successful demerger of Broca. · Creation of innovative Interactive Media division. · Increasing market demand for convergent Neale Graham, Joint Chief Executive of 2ergo, commented: “We are pleased to announce another strong year of growth for the Group, and once again, to report profits ahead of market expectations. “What is particularly pleasing is that these results have been achieved despite the additional pressures on the Board required to successfully complete several large projects, including the acquisition and turnaround of US-based Proteus, the demerger of Broca and the launch of 2ergo’s Interactive Media Solutions division. “Over the period we have witnessed the mobile sector move into an exciting new phase. We are seeing increasing demand for mobile marketing and advertising solutions requiring convergent mobile and internet technologies. This is helping the Group to expand into new areas, to introduce new products and services, which ultimately deliver additional benefits to brands and new experiences for the end user. “Our plans to scale the business are taking shape and we are extremely pleased with the level of success we are achieving in “As you will see from our results, 2ergo has made significant progress over the year, our sales pipeline is building steadily, in all regions, and the Board remains confident of future success. “Our goals are ultimately designed to deliver shareholder value and it is with this in mind that we look forward to another strong year”. www.2ergo.com |
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