GL TRADE`s Growth exceeds forecasts
GL TRADE's Growth exceeds forecasts Group turnover for the 1st quarter 2002 was M 28.1, an increase of 34.4 % compared to the same period last year. K Q1 2001 Q1 2002 % France 9.491 10.002 + 5% Europe 8.915 13.099 + 47% Americas 2.079 3.600 + 73% Asia 408 1.369 + 236% Total 20.893 28.070 + 34% Global growth GL TRADE has continued to expand internationally: 64% of the total turnover for the first quarter of 2002 came from outside of France (compared to 54% a year ago). In Europe business was particularly strong in Belgium and Finland. New contracts were also signed in Sweden. Turnover in the United States increased by 73% and represented 13% of the total turnover. In Asia, growth was strong in Hong Kong. A South African subsidiary was established in the first quarter. The new office will manage the contract signed with the Johannesburg Securities Exchange (signed in November 2001), and has already started to develop business opportunities with local members. Products and Services Sales of GL NET increased by 45% (25% of total turnover). Sales of middle-office products increased by 56% (5% of the turnover). [REMOVED GRAPHICS]GL Professional Services won new business in the first quarter and now represents 6% of the total turnover. The market downturn at the end of 2001 affected the first quarter's figures for minitel consulting and marketdata transmission, where sales decreased respectively by 45% and 5% compared to 2001. This impacted GL multimedi@ where sales (8% of the turnover) increased by 6%. The first two major contracts for GL TRADE's Order Management System were signed at the end of the first quarter. Despite the drop in investment in the banking sector, the outlook for 2002 remain positive for this new range of products. Outlook : In April GL TRADE consolidated its position in Japan with the acquisition of CGI ISMC Tokyo. This company develops and sells the FOX trading software, and has gateways with the 8 major Asian exchanges. This acquisition has made GL TRADE Japan's 2nd largest trading solutions supplier. It is expected that turnover in Japan will reach 11M in 2002, which will represent around 8% of the group's turnover. The acquisition of FOX has not impacted the first quarter's figures. The 2001 group financial statements will be approved by the General Meeting to be held in Paris on May the 21st, 2002. Note to Editors About GL TRADE Established in June 1987, GL TRADE provides financial trading software. With its headquarters in France, the company operates via its proprietary network, GL NET, on more than 55 markets and employs more than 650 people worldwide. GL TRADE has over 500 financial institutional clients including major UK, US and French banks. GL TRADE is listed on the Nouveau Marché (Euroclear Code 7 208) Contacts Anya Velzeboer/ Simon Manley Financial Dynamics Tel: 0207 72697174 Email: anya.velzeboer@fd.com / Simon.manley@fd.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/02/20020502BIT00980/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/02/20020502BIT00980/wkr0002.pdf