Dallas, Texas 12/11/2014 (FINANCIALSTRENDS) – GFI Informatique SA (EPA:GFI) has gained about 7% since its announcement of 3Q14 operational and financial results. However, the stock is still trading 22.5% below its price about six months ago.
The company reported strong double digit increase in its 3Q14 revenue to €192.6 million from €172.5 million in 3Q13. Of which, France revenue was €165.4 million and International revenue was €27.2 million. Spain contributed approximately €16.2 million in International revenue. Year-to-date revenue increased 7.1% YoY to €579.4 million through September 30, 2014.
Vincent Rouaix, Chairman and CEO of GFI Informatique SA (EPA:GFI), said that company reported excellent quarter with regards to its revenue performance. Operations in France outperformed the domestic and international market. The revenue growth was fueled by recent acquisitions as well as the Group’s core businesses and their market relevance. The current order book and existing level of business position the company well for 2015.
GFI Informatique’s achieved strong quarter in France despite unfavorable calendar effect on like-for-like growth of one business day compared with prior year quarter. The company also secured contracts for a new test services center for Société Générale and industrialized production support for SNCF. The like-for-life growth was driven by the company’s valued focus on acquisition, industrialization, innovation and proximity.
GFI Informatique SA (EPA:GFI) emphasizes acquisitions as one of the key transformation vectors in line with its strategic focus aimed at increasing market share and proportion of recurring business. The group’s acquisitions over the past one year contributed 8.5% of revenue growth in 3Q14.
During 3Q14, the company acquired the Oracle-JDE business of the iORGA Group, which is expected to boost the group’s presence in ERP integration. During the current fiscal, the company also acquired the insurance software editor ITN, digital services company Airial (both during 2Q14) and digital agency Awak’IT (during 1Q14).