In the three months to September 30, LBI reported revenue of 36.4m euros ($46.5m), compared to 24.1m euros ($30.8m) in the same period of the previous year. The company’s net profit increased slightly to 3.3m euros ($4.2m) from 2.9m euros ($3.7m) in the third quarter of 2005.
LBI was formerly known as LB Icon, prior to its merger with local rival Framfab AB in July this year. LBI’s third-quarter results include revenue generated by Framfab from August 1.
On a pro forma basis, which includes the financial performance of both LB Icon and Framfab, the combined group made a net profit in the third quarter of 3m euros ($3.8m), up from 900,000 euros ($1.1m) in the same period of last year, on revenue that grew 7.4% to 40.7m euros ($51.9m).
LBI provides a range of services including consulting, online strategy management, application implementation, and creative web design. In a conference call, LBI’s CEO Robert Pickering said: There is no question that we now are the leader in the European marketplace. There is no other company that has the pan-European network that we have and it will not be easy for anyone to duplicate it.
