TARGIT keeps growing. The annual accounts for 2011 confirm that the company’s total revenue has increased by 5 percent. Last year, TARGIT’s revenue was USD 19 million and operating profits were approximately USD 2 million.
“The revenue of our core business has increased by 41 percent. Therefore, we have been able to invest further in market development in the U.S. Additionally, we have created a completely new business area with the subsidiary illo.com while maintaining the 2010 bottom line,” states CEO Morten Sandlykke.
The positive figures are a result of growth on, among other, the British market, explains TARGIT’s Senior VP of Sales Flemming G. Madsen. “Strategically, TARGIT is part of a package solution with our British partners. This has resulted in growth over 50 percent in 2011.”
However, the existing customers are also significant contributors to the positive bottom line, states the Senior VP of Sales. “Our customers support our product philosophy regarding democratization of data by sharing business knowledge provided by TARGIT in their organizations. They do so by investing in more licenses and modules that display key figures on flat-screens, which ensures that all employees in the company work towards the same goals.”
In 2012, Flemming G. Madsen is expecting an increase of municipal investments in BI software. “We have initiated a co-operation with some of our strategic partners comprising delivery of systems for, among others, the elder care field”, he concludes.