| € millions | June 30, 2002 | June 30, 2001 | % Increase |
| Sales | 61.1 | 45.9 | +33% |
| Earnings * | 13.2 | 10.0 | +32 % |
| Net profit before goodwill | 8.4 | 6.2 | +36 % |
| Net profit after goodwill | 7.4 | 5.1 | +46 % |
"Résultat courant" - French GAAP
The 33% increase in sales includes organic growth of 30.7% plus € 1.1 M from GL TRADE 's April 2002 acquisition - CGI International (FOX products) in Japan.
Growth remains high despite the difficult economic climate as well as the decreasing value of the US dollar and the pound sterling - the functional currencies of key regions within the group.
Net profit before goodwill amortisation increased in line with sales and remained a very healthy margin of 13.8%. Net profit after goodwill amortisation increased sharply (+ 46 %) as amortisation periods for the goodwill arising on a number of prior acquisitions came to an end during the period.
Despite this difficult economic climate, GL TRADE retains its forecast sales growth target of 25% for the year as well as a net profit margin (before goodwill) of 13 %.
The group continues to pursue international growth with 66% of its sales generated outside of France (57% in the first half of 2001).
Following the signing of a distribution agreement with the Johannesburg stock exchange in 2001, GL TRADE opened a local office in South Africa in the 1 st quarter of 2002.
GL TRADE is currently setting up local offices in Canada and in Sweden. A branch office should be in place in each of these countries by the end of the year.
Trading activity (Front Office systems and GLNET) increased by 46% (43% excluding FOX). Sales of view only product outside trading rooms, sensitive to market conditions, were down 7%.
The integration of FOX (formerly CGI international) and GL TRADE products is taking place rapidly.
GL TRADE is stepping up its OMS marketing efforts and enhancing its view only product designed for professionals (GL WINSIGHT) with the aim of developing niche products for GL TRADE's established client base.
