Excellent third quarter boosted BY cloud SUCCESS
| Sidetrade Group Turnover € 000's | 2013 | 2012 | Change |
| 1st Quarter | 3,125 | 3,466 | (9.8 %) |
| 2nd Quarter | 3,489 | 3,418 | + 2.1 % |
| 3rd Quarter* | 3,365 | 2,978 | + 13.3 % |
* Consolidated and unaudited.
Following a turning point in the second quarter, Sidetrade Group posted third quarter revenues of €2.6M, advancing 22% year-on-year (2012 Q3: €2.1M). These results are all the more striking given that the third quarter tends to be the weakest of the year.
This return to double-digit growth is a result of a 22% acceleration in SaaS revenues (€2.6M v 2012 Q3: €2.1M), representing growth of 16% over 2013 first half revenues. In contrast, following a reduction of 34% during 2013 first half, Professional Services posted third quarter revenues of €0.80M, a 9% decrease year-on-year (2013 Q3: €0.88M).
With third quarter revenues of €2.6M, the Cloud business represents more than 76% of group turnover, constituting the primary growth driver of the group.
PURSUIT OF "TARGET25" STRATEGIC PLAN
In line with the Target25 growth plan (see April 13th 2013 press release), Sidetrade continued to pursue an aggressive investment program during the third quarter, announcing the opening of a subsidiary in Ireland.
Olivier Novasque, CEO and Chairman of Sidetrade Group, explains:
«This launch in Ireland marks a key stage in our international development. This expansion enables us to serve our customers through the delivery of Professional Services in all European languages, as well as capitalise on new opportunities through a pan-European marketing platform. This step forms an integral part of the execution of our Target25 plan, aiming to establish Sidetrade as a global market leader».
