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Munich-based IT staffing and software firm Allgeier (AEI: GER) posted revenue growth of +19.6% during the first half of 2013 compared with a year ago. Revenue for H1 2013 was €227.3 million, up from €190.1 million during the first half of 2012.
Increased revenue is attributed to recent operational growth, as a direct result of acquisitions in the past few years. EBIT (earnings before interest and tax) grew +88% to €6.2 million from €3.3 million a year ago.
Revenue for Experts, Allgeier’s recruitment business segment, rose +30.5% in the first half of 2013; rising from €90.5 million in H1 2012 to €118.1 million this year. EBIT for the period rose +27.7% increasing to €6.4 million from €6.1million last year.
Allgeier specialises in IT solutions with more than 4,000 employees and 1,500 freelance experts. The firm has over 90 offices across the German speaking region and operates elsewhere in Europe, as well as in India, Mexico, and the United States.
In trading yesterday, the company’s share price rose +2.65% to €15.11, up +42.94% compared with a year ago. Based on its current share price, the company has a market value of €136.12 million.