Cambridge (UK), 14 August 2014 (08.30 CEST):
Global Graphics SE (Euronext: GLOG) announces it has published its half year report and condensed consolidated interim financial statements for the six months ended 30 June 2014. The full document is available for download from the investors section of the Company’s website at: http://www.globalgraphics.com/investors/financial-reports/#2014 Financial highlights of the six months ended 30 June 2014
Operational highlights of the six months ended 30 June 2014
- Sales for the period were €5.34 million, compared with €3.64 million for the same period in 2013; an increase of €1.70 million (46.7%).
- The pre-tax result was a profit of €0.61 million for the period, compared with a loss of €1.67 million for the same period in 2013.
- The net result after tax was a profit of €0.66 million for the period, compared with a loss of €1.35 million for the same period in 2013.
- Basic earnings per share increased by €0.20 per share over the same period in 2013. For the period ended 30 June 2014 there was a basic earning of €0.07 per share, compared with a loss per share of €0.13 for the same period in 2013.
- Cash and cash equivalents increased by €0.48 million during the period to €1.77 million.
- The Company's measure of adjusted operating profit showed a profit of €1.00 million for the period, compared to a loss of €0.88 million for the same period in 2013.
On 4 March 2014, the Company announced that it had signed a contract to license its Harlequin technology to a global manufacturer of office printing devices to drive their single function, multi-function and production printers. The revenue resulting from this new contract will be in the range of US$7 million to US$9 million during the term of the multi-year contract. The impact on revenue in the financial year ending 31 December 2014 is expected to be between US$3 million to US$4 million with no significant increase in expenses.
The Group has made three strategic appointments during the period.
- Mr Justin Bailey was appointed as VP of Sales, reporting to Gary Fry, CEO;
- Mr James Chiang has joined the sales team from CSR (Zoran) to represent the Group in Taiwan; and
- Mr Guido Van der Schueren takes over the Chairman's role.
To enable Mr Chiang to prepare and build new revenue opportunities for the Group an office has been established in Taipei, Taiwan.
During the period the Group published an independent guide for designers and users of variable data print (VDP) called Do PDF/VT Right™. The free guide is edited by Martin Bailey, chief technology officer for Global Graphics and the primary UK expert on the ISO committees that maintain and develop PDF and PDF/VT. The content is completely vendor-independent which is why the guide is also endorsed by the PODi and Xplor industry associations. The guide can be downloaded from http://www.globalgraphics.com/doPDFVTright/
Corporate Communications Director
Tel: +44 (0)1223 926489
Chief Financial Officer
Tel: +44 (0)1223 926472