French financial IT firm Linedata Services is reporting steady organic growth for 2004, bolstered by rising sales and increasing net income from deferred projects in the second half of the year.
Linedata sales were up to EUR113.1m in 2004, compared to EUR100.3m a year earlier, while group net income rose to EUR7.2m from EUR7.1 in 2003.
In a statement, Linedata says delays of licence agreements into the second half of 2004 and a growth strategy launched at the end of 2003 enabled the group to generate organic growth of 8.3% in H2 and 3.7% over the full year.
Looking ahead the group says it is aiming for sales growth of over five per cent in 2005, which it says will be be the first step to achieving double-digit growth.
Linedata also says it still intends to step up efforts in seeking acquisition targets, despite missing out on buying Toronto-based Financial Models Company earlier this year.