SingularLogic: Significant improvement in financial results for the first half of 2018

SingularLogic: Significant improvement in financial results for the first half of 2018

Athens, October 22nd, 2018. SingularLogic, a Marfin Investment Group (MIG) member, significantly improved its financial results in the first half of the year. According to the financial statement, sales increased by 14.9% in comparison with the same period in 2017, reaching €20 million.

Gross profits doubled in the first half of 2018 compared to the first half of 2017, reaching €4.9 million versus € 2.4 million in 2017. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) amounts to €869.000 this year compared to losses of €3.9 million in the first half of 2017.

Commenting on the results of the 2018 first half, Mr. George Constantopoulos, CEO at SingularLogic, stated, "We are implementing in a consistent and coherent way the restructuring and development program that has been set by the company’s management, in spite of the adverse conditions that exist in the local IT market. Our shareholder’s support, our personnel and partners’ dedication, as well as our Greek and international customers’ preference, decisively enable this effort. Our unique aim is to constantly offer high quality services and products that meet the needs and demands of our customers".