AGM trading updateMay 8, 2008
08 May 2008
FOR IMMEDIATE RELEASE 8 May 2008
ANNUAL GENERAL MEETING: TRADING UPDATE
Globo plc ("Globo" or the "Company"; LSE-AIM: GBO), a leader in the Information
and Communications Technology market in Greece, will be holding its Annual
General Meeting later today.
The non-executive Chairman, Brett Miller, will issue the following short trading
"We are pleased to report that Globo is maintaining strong momentum within its
"At the end of March at the time of announcing the results for 2007, we reported
that the Company had an excellent forward order book including approximately
€4.0 million of contracts for delivery in 2008 for digitalizing Greek state and
parliamentary archives as well as a strong pipeline of potential future
"Globo’s current order backlog is approximately €6.7 million, up from €3.6
million at the end of 2007. Revenue growth during the first quarter of 2008
has been strong in what is traditionally the quietest period of the year. The
Board has confidence in being able to deliver a good result for 2008, as a
whole, based on the contracted projects together with ongoing business
development and a historically strong last quarter of the year."
Costis Papadimitrakopoulos, Managing Director +30 210-646-6008
Dimitris Gryparis, Finance Director +30 210-646-6008
Bankside +44 20-7367-8888
Simon Bloomfield or Steve Liebmann
NCB Stockbrokers Limited (Nomad & Broker) +44 20-7071-5200
Christopher Caldwell or Jonathan Gray
GLOBO plc was admitted to AIM on 14 December 2007 having raised £3.1 million via
a placing of shares with institutional investors. Founded in 1997 by
Konstantinos Papadimitrakopoulos and headquartered in Halandri (a suburb of
Athens), Globo has established itself as one of the market leaders in the Greek
ICT market. It provides e-business and telecom software products and related
services to the private and governmental sectors in Greece as well as developing
and operating broadband wired and wireless networks. It has developed to become
one of the largest e-business software vendors in Greece.
Globo has expanded its service offering and has developed valuable IPR assets
in the form of its e-business and broadband access technologies, as well as
developing proprietary software platforms using both its own in-house
capabilities and the contracted services of third party technology providers.
Globo purchases technology solutions and services that can be integrated into
its own products. These integrated software solutions and related services are
sold to private and Governmental organisations, primarily on a project basis,
through sales developed directly by Globo’s own personnel. In addition, Globo
has a number of large corporate clients and works closely with solution
providers and sales channel partners to win contracts from the Greek Government.
Globo’s products are used by private and public organisations that include more
than 600 corporate and SME clients and more than 60 public sector clients. They
are also sold through 14 value added resellers to a large number of indirect
customers. Globo’s direct private sector customers include Xerox, National Bank
of Greece, Velti, Group Marinopoulos and the University of Brighton.
Globo’s public sector customers in Greece include the Ministry of Foreign
Affairs, the Ministry of National Education and Religious Affairs, the
Municipalities of Halandri and of Maroussi and the Hellenic parliament.
Globo’s e-Business platform, as well as its e-Commerce and broadband access
technology products have been successfully marketed and operated in Greece, UK,
Ireland, France, Belgium, Cyprus, Romania, Bulgaria, Spain and Italy.
The three components of the Globo Group’s key software revenue stream are
• products and services that facilitate e-business;
• products and services that enable access to broadband; and
• resale of third-party goods
The first two product groups, the e-business and broadband access, are offered
as a software licence or S.a.a.S.
This information is provided by RNS
The company news service from the London Stock Exchange