Globo dials up profits

Most of the growth stemmed from the push email product, Citron Go! and social media offering Go! Social, with both subscriber numbers hitting 1.4m by the end of the period, up from 550,000 at the end of 2010. Moreover, the newly launched enterprise product, Go! Enterprise Server – which mobilises the workforce and customers of clients – has been well received and contributed €2m to 2011 revenues in just two months. These mobile applications are mostly consumed outside of Greece, resulting in international sales surging 255 per cent to €21.9m, more than offsetting weakness in the Greek software business which management are keen to sell.

The focus will continue to be on growing the mobile business and driving its international presence. A February placing raised £17.3m which provided funding for two bolt-on acquisitions – ReachFurther Communications in Cyprus, and New York-based Dialect Technologies – and the opening of a London office.