GFG Group claims solid profit growth

Electronic payment solutions company says revenue increased by 15 percent

New Zealand electronic payment solutions and services company GFG Group has reported revenue and profit growth for the year ended March 31, 2012.

Revenue increased by 15 percent, with profit before tax (EBITDA) amounting to 10 percent of revenue, according to a media release issued today. Growth is forecast to continue through the 2013 financial year, according to the company.

The results are in line with expectations, says GFG group executive director Dennis Row.

Row says highlights for the 2012 year included the signing of 32 new customers across all regions, including in GFG’s key target markets of Southeast Asia, Africa and the Middle East. Sales were strong across each of GFG’s three main product lines: card and mobile payments and its FINsim testing tool.

GFG says more than 90 organisations in 30 countries use its solutions for cards management, mobile payments, banking and testing. As a private company, GFG Group is not required to disclose financial numbers.

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