Globo posts rise in annual earnings on sales of GO!Enterprise

Globo reported on Monday a 28.3 per cent increase in annual revenue on the back of sales of its GO!Enterprise smart phone technology.

Total revenue for the year ended December 31st 2012 came to €58.1m, up from €45.3m the year earlier.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 35% to €27.8m from €20.6m while profit before tax grew 47.9% to €17.9m from €12.1m.

The company's flagship product GO!Enterprise, a mobile application for corporations, achieved revenues of €12.01m, compared to €2.0m in 2011, as the customer base increased.

In February Globo launched its GO!Enterprise - Enterprise Mobility in a Box for small and medium enterprises and signed an exclusive distribution agreement with Ingram Micro for North America.

"Management has a clear strategy for addressing the emerging enterprise mobility markets in the US, UK and Western Europe where we plan to build a leading global market position," said Non-Executive Chairman Barry Ariko.

"Overall, current trading is strong and we are confident that 2013 will be a year of significant strategic progress and profitable growth for the group."

RD