GFI Informatique SA has reported a first half net profit up 74% at 8.48m euros ($8.98m) on revenue that rose 40% to 165.1m euros ($174.8m). Jacques Tordjman, ceo of the Paris, France company said the figures signal that GFI is well ahead of its plan to reach revenue of 76m euros ($80.7m) by the year 2000. With an operating margin of 12.8% in the first half, GFI was ahead of its sector average in France (9.9%), which Tordjman attributed to the group’s greater emphasis on web and e-commerce technology.
GFI has also spent the last six months pursuing a policy of international expansion, buying no less than five companies during the period (CI No 3,649), and still intends to pick up more in countries where it has still to have a presence, including Germany, the Netherlands and Portugal.
Tordjman also announced for the second half of this year a change in the company’s stock market listing, which will move up from the Second Marche to the main board. This operation will be followed by a capital increase designed to finance the next stage of GFI’s development, which aims to reach a revenue level of 300m euros ($317.3m) in 2001, with a staff of some 4,000 people.
