Buongiorno Reveals Financials

Mobile entertainment company Buongiorno has revealed preliminary results for the financial year 2007. Revenues totalled 175 million (139 million), compared to 192 million in FY06, with Proforma revenues for FY07 (including iTouch, acquired in 2007) at 319 million. Net profit for FY07 increased by 13% to 13.8 million.
Buongiorno Group classifies financials by geographic regions spanning four market areas: Central European Region, including Group operations in Italy, Germany, Austria, Greece, Turkey, France and other French-speaking countries; the Iberian Peninsula and South American Region; Northern European Region, including operations in the UK and the Netherlands, and also in South Africa, Australia and New Zealand; and the North American Region, including the US and Canada.
Turnover in the Central European market increased by 9.2% compared to FY06 to 56.3 million in, primarily due to the innovative activities and services provided to telephone operators in Italy and Turkey as well as the increase in the activities of the Marketing Services in Italy. In
Northern Europe consolidated revenues were up by 22.6% to 25.2 million, due to the impact of the marketing services activities of Hotsms in the Netherlands and Flytxt in Great Britain. Turnover in Spain and South America was slightly down at 60.3 million, primarily due to the acquisition of the ByCycle Argentina Group,which earned a total of 2.4 million in revenues. Finally, turnover from North America decreased in Q4, and overall in FY07 compared to FY06, due to the b2c activity undertaken by the subsidiary Buongiorno USA.
Buongiorno says it expects revenues of 330-350 in FY08. It has also set the objective of achieving savings totalling 10 million by mid-2009 as a result of the iTouch acquisition.

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