Gl Trade Had A Good 2004

Trading technology specialists GL TRADE returned to growth with a 17.2% rise in turnover during 2004. The company says that it spent much of 2004 integrating the activities acquired from Misys at the end of 2003 but, by the second

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Trading technology specialists GL TRADE returned to growth with a 17.2% rise in turnover during 2004.

The company says that it spent much of 2004 integrating the activities acquired from Misys at the end of 2003 but, by the second half of the year, had regained its overall profitability target (approximately 19% of EBITDA). The integration of the product offer is already paying off and will be completed in 2005.

In November 2004, the Group acquired Davidge Data Systems, a US specialist in front and middle office instruments for American equity and option markets (EUR0.7 million turnover for the last quarter 2004).

It December it bought Ubitrade, one of the leading providers in electronic trading and back office solutions, establishing its position through the entire Straight Through Processing (STP) chain (EUR 2million turnover for the last quarter 2004).

Turnover grew outside France (79% of total turnover) with a net progression in the Asia-Pacific region (+77%) thanks to the combined effect of the Misys Asia integration and the impact of the economic revival on local financial markets. The group also opened an office in Seoul to support local growth. The UK remains GL TRADE’s most important area of development with 24% in total turnover. The American zone generated turnover of US$16.2 million representing an increase of 13%.

Performance in France continued to be held back by consolidation among intermediaries and a contraction of retail business (Minitel and television), and turnover fell by 11%.

The company says contracts signed in the last quarter of 2004 and early 2005 are encouraging for the company’s overall business, particularly for newly acquired activities such as Ubitrade.

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