A dramatic boost in revenue in the fourth
quarter has helped leasing software firm Linedata to record revenue
in 2011.
The France-based financial software firm’s
revenue grew 1.2% year-on-year, helped significantly by an 11%
surge in the second half of the year, up 4.3% in the third quarter
and 18.1% in the fourth quarter.
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In a preliminary statement ahead of the
release of its full annual results in March, Linedata revealed
total revenue of €137.8m for 2011 compared to €136.2m in 2010.
Revenue was down year-on-year in the first and
second quarters but recovered in the second half which Linedata
attributed to a significant recovery in activity and the
acquisition of fellow-French financial software firm Fimasys in
July 2011.
New business was €47.1m, €49.2m including
Fimasys, up €12.2m compared to the previous year, which was mostly
driven by front-office products in the United States and
back-office products in Northern Europe, according to the Linedata
statement.
The company expects revenue growth to
contribute to improved margins for 2011 and anticipates continued
revenue growth in 2012.
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By GlobalDatagrant.collinson@vrlfinancialnews.com
