Turnover for first half year of 2010 was € 3.3 million compared to € 2.9 million in first half of 2009.
AND International Publishers NV has realized growth in turnover in the first half of 2010. The company realized an increase in net profit in the first half of the year. Thanks to a good second quarter and commercial successes at the beginning of the second half of 2010 the company expects turnover in 2010 to increase with at least 34 percent to a minimum of € 6.7 million. At that level of turnover AND expects an after-tax profit of at least € 2.3 million.
AND CEO Maarten Oldenhof: "We are very pleased that the growth of more than 30 percent in 2009 will continue in 2010. In May we have shaken up the market for mobile navigation together with Geolife. Under the Navmii GPS Live label we offer turn-by-turn navigation for a very low price for the iPhone. Furthermore, we are very pleased with the start of the second half of 2010, as we closed new contracts for our navigation maps of Western Europe. For that reason we expect that turnover this year will amount to at least € 6.7 million compared to a turnover of € 5.0 million in 2009."
Western Europe is now almost covered with high quality navigation maps. In the second quarter of 2010 two countries were added to the map database, namely the maps of Italy and Norway. Next to the maps for Western Europe AND released a map for the United States, this digital map is optimized for geocoding.
As reported in the trading update on May 18 AND will reduce its cost base in 2010. This reduction of costs already has been realized in the first half of 2010. Personnel costs have been decreased to € 1.5 million during the first half of 2010 compared to € 3.2 million in the first half year of 2009. AND expects a decrease in total operating expenses of € 2.5 million for 2010. Total operating expenses will decrease from € 7.4 million to € 4.9 million.
This year AND closed a contract with the British Navmii for navigation on the iPhone and iPad. By now, maps for Italy, Denmark and Sweden have been added for the iPhone meaning that this mobile app is now available for ten countries. Further, three countries optimized for the iPad are meanwhile available.
The free iPhone application AND launched last year for viewing football scores in the Dutch Eredivisie remains popular. Overall, this app has been downloaded more than 75,000 times. For the new football season AND updated iVoetbalstanden and this program is available through the iTunes store.
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