European digital service provider has posted a 23% y/y revenue growth, according to the preliminary half-year results. It was driven thanks to an integration of Osiatis and a positive business trend in the second quarter, it says.
Econocom bought the Osiatis Group last year and the integration efforts affected revenue in the service business. However, this was offset by a 7.1% y/y growth in revenue in products and solutions segment while the revenue for technology management and financing unit remained almost flat.
In the first half of 2014, recurring operating profit stands at €31m compared
with €23m in reported data for the same period last year, up 31%.
The company has managed to grow its services division by setting up Digital Dimension which aims to become a major provider of cloud-based and b2b solutions. In May Digital Dimension completed its first acquisition and plans to advance with further acquisitions in2014 in order to realise €120m in revenue plan by 2016, it says.
Econocom is also expanding its business to new markets across the Americas where it has recently established its subsidiaries in North America and Mexico.