Weborama Announces Consolidated Earnings Results for the First Half Ended June 30, 2016
Weborama announced consolidated earnings results for the first half ended June 30, 2016. In the first half of 2016, the company's consolidated operating profit totalled €93,000 compared to loss of €148,000 recorded for the same period in 2015. This result follows a 13.5% increase in the group's consolidated revenue in the first half of 2016; organic growth settled at increase of 18% after neutralising the effect of the depreciation of the Rouble. In the first half, net profit from consolidated companies was €555,000, against €238,000 a year ago. At constant exchange rates, net profit from consolidated companies totalled €635,000. At constant exchange rates, the group's operating profit totalled €191,000 in the first half. Consequently, the company has forged ahead with its R&D investment policy in response to the expectations of a favourably developing market: innovation expenditure totalled €2,013,000, an 8% increase compared to the first half of 2015. Scaling-up R&D investments has had a positive effect on the group's corporation tax rate.