Entersoft’s revenues increased significantly in first half of 2013
Entersoft’s Group revenues increased by 13% at the first half of 2013, as a result of its recent investments in new products and its activities abroad. More specifically, the holding company increased considerably its revenues through its ERP, CRM, E-Commerce and Mobile applications, areas in which the company invested heavily the last two years and developed its clientele with new key customers. Additionally, Bulgaria’s and Romania’s subsidiaries contributed considerably to the results, having achieved revenue growth within the first half of 2013.
These results, in combination with the numerous new contract agreements with customers deriving from all the Group’s subsidiaries, create reasonable expectations that the revenue growth rate will increase even more during the 2nd half of 2013. Significant income growth is also expected for Entersoft’s latest acquisition, Cardisoft S.A., during the 2nd half of the year.
In detail the Entersoft Group results are: net income amounted to 3,87m Euros increased by 13% compared to 3,47m Euros during last year’s 1st half. Profits before taxes amounted to 0,61m Euros, while last year’s corresponding period were at 0,16m Euros. For the holding company, Entersoft S.A., the results are: net income amounted to 3,06m Euros increased by 4% compared to 2,94m Euros at the same period during last year. Profits before taxes amounted to 0,65m Euros, while last year’s corresponding period were at 0,20m Euros.
Due to significant profitability improvement and prudent credit policy, the Group consecutively increases liquidity, which empowers its competitive advantage against major competitors. This systematic and organized credit policy ensures consistent high liquidity ratio, exceeding 1,73 m Euros, while last year’s equivalent were at 1,58m Euros, despite the disbursement for Cardisoft’s acquisition during 2012. Group’s liquidity ratio increased to 4,93 vs. 3,70 in 2012, while the liquidity quick ratio improved to 8.78 vs. 7.05 in 2012, being one of the few in the industry.