PARIS, Sept. 17, 2001 (PRIMEZONE) -- Linedata Services, first-half 2001.
Net profit before goodwill up 75.0% EUR m H1 2000 H1 2001 Growth Sales 23.7 38.5 62.1% Operating profit (a) 3.6 6.2 69.5% Operating margin 15.4% 16.1% Net profit before goodwill 1.9 3.3 75.0% Net margin before goodwill 7.9% 8.6% (a) before profit-sharing
Linedata Services's first-half sales rose 62.1% to E38.5 million. Like-for-like, the increase was 15.2%, in line with objectives. All Group divisions contributed to growth: Asset Management (+50%, of which 15.1% organically), Employee Saving (+17.5%, of which 15.2% organically), and Credit Finance (+280%, of which 15.6% like-for-like). More than 65% of sales was generated by our application service provider (ASP) activities.
Profitability Strengthens
Our excellent marketplace performances, combined with the successful integration of acquisitions (Ekip, Longview), delivered a sharp 69.5% increase in operating profit, giving a margin of 16.1%. Net profit grew 75.0% to E3.3 million, a net margin of 8.6%. Longview is Successfully Integrated
The U.S. Company, Longview, acquired in March 2001, has already made a positive contribution, with sales of E4.5 million over three-and-a-half months - the annual target is E10.3 million - and a 19.5% operating margin. After financing costs, the acquisition has boosted earnings per share by 9%.
Outlook for 2001 is Confirmed
Based on these interim results and the high level of recurring business, Linedata Services is confident of reaching its targets for 2001, namely an operating margin of more than 15% on sales of E77 million, up 43.4% year-on-year.
Linedata Services
Linedata Services is an Added-value Application Services Provider (AASP) and a leading European specialist in IT solutions for financial management. Our core competencies are asset management, credit finance, and employee savings. As a software publisher, solutions integrator and operating services provider, Linedata Services has a full product offering for the finance industry. The company was floated on the Nouveau Marche - the growth-company market of the Paris Bourse - in May 2000. In 2001, Linedata Services reported sales of E53.7 million, a rise of 48.7%.
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