Buongiorno revs up three per cent Jan to September

Total hits 196.6m euros against 190.3m euros or 2010.

Buongiorno maintained its sales despite a lot of internal change and corporate activity this year. This included the acquisition of Dada.net in May of 2011, and the spin-off of the major part of the Group’s B2B activity earlier this month.

Consolidated net revenues for the third quarter alone were 73.8 million euros against 63.2 million euros in Q3 of 2010. That's up 17 per cent.

However, the firm did stress that behind the numbers, the income trend was up. It said that for the first nine months of the year, the Industrial Added Value figure (total core business revenues less variable costs of sales and marketing) amounted to 89.4 million euros, compared with from 88.0 million euros in 2010.

"The first nine months of this year have generated significant results, especially regarding M&A operations and accelerations of new revenue streams,” said Andrea Casalini, CEO of Buongiorno.

“These results were achieved at the cost of additional expenditures and the sacrifice of profitability in the short-term. The reduction of the EBITDA and of net profit was, in this sense, planned, although it was accentuated by the slightly less positive performance of more traditional services in some geographies.