The Ingenico Group posted a big improvement in profitability in 2007 with a sharp rise in its gross margin to 36.6% versus 32.1% in 2006 and a steep increase in profit from continuing activities at €62.5 million compared to €33.1 million in 2006, a rise of 89%.
For the full year, the operating margin rose by 4.5 points to 11%. Net profit was also up sharply, and reached €39.5 million, compared to €16 million in 2006.
Consolidated revenue for the year amounted to €567.9 million, an increase of 12.2% versus 2006 and 9.3% on a comparable basis.
Philippe Lazare, Ingenico's CEO, stated: "Ingenico has turned in an excellent performance in 2007, with a significant improvement in profitability and a strong increase in cash flow from operations. These good results reward our continuing efforts to cut costs while extending our commercial footprint and increasing our market share throughout the world. The acquisition of Sagem Monetel, to be implemented this year, gives Ingenico a strong platform to continue its profitable growth and assert its global leadership in its industry."
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