TARGIT continues last year’s million DKK profit with yet another financial year of significant progress. Revenue has grown by 74 percent, and profit has increased to 11 million DKK. The results and the consolidation in the market will be activated towards further investments in the company’s global growth.

Hjørring, April 3, 2007 – TARGIT, Denmark’s leading developer of business intelligence solutions, has recently reported annual results, and executive management can once again conclude that great investments in the distributor and reseller channels both in Denmark and abroad have proven fruitful for the second year in a row. Revenue grew from 40.6 million DKK in 2005 to 70.6 million DKK in 2006, and net profit grew from 3.5 million DKK to 10.9 million DKK.

This year again TARGIT is in the midst of increasing staff; it expects an increase of 20 employees before the before the end of the year so the company reaches a total of 60 employees. It is especially in the foreign markets that TARGIT is experiencing significant growth and the company’s close cooperation with Microsoft in Denmark and in the US is a significant driving force for the continuing expansion.

“We invest many development resources into constant refinement of the users’ experience when working with TARGIT BI Suite. TARGIT is presumably the world’s most user-friendly business intelligence solution, and the conclusion of the recent market analysis, The OLAP Survey 6, also shows that companies will only need to see our solution once to be convinced of its power. We are very satisfied with this year’s results, and we are firmly committed to our strategy of investing in further growth both in established and up-coming markets such as the US, Germany, and Sweden where we are experiencing a massive demand for our solutions”, says Morten Sandlykke, CEO and co-founder of TARGIT.

In TARGIT BI Suite 2K7 which will be launched in May this year, TARGIT will further trump the ambition of delivering the market’s most user-friendly BI tool. It still focuses on new and advanced analysis tools and fewest possible mouse clicks. However, in the next version, TARGIT also reveals a brand new technology that is expected to set the standard for how business intelligence analyses can be shared.  

About TARGIT

TARGIT was founded in 1986 with the current CEO, Morten Sandlykke, as one of the founding partners. Today, TARGIT is the largest developer of business intelligence in Denmark and the core product, TARGIT Business Intelligence Suite, is distributed by more than 250 business partners around the world. The first business intelligence-product from TARGIT was based on the idea of user-friendliness, flexibility, and simple implementation; core values which have since characterized TARGIT’s solutions. TARGIT is Microsoft Gold Certified Partner within the competencies ISV/Software Solutions and Data Management Solutions.