GFI Reports 81% Revenue Growth

Computergram International, March 8, 1999

French IT services company GFI Informatique SA has reported revenue growth of 81% for 1998, to 252.6m euros (the equivalent of $273.2m during the year). The company acknowledged however, that over half this growth rate came from its numerous acquisitions (CI No 3,593), since they form the basis of its growth strategy.

In purely organic growth of its existing operations, however, it could still report a 36% growth overall. Interestingly, organic growth was stronger outside France, where it expanded 53% last year, than within it, totaling growth of 34.9% during the period. GFI is now present in the UK, Switzerland, Spain and Italy. GFI also made it clear that further acquisitions can be expected, announcing that it has another $66m in war chest specifically for this purpose.