Thirdforce reports first half profit

Source: Technology Digital

Date :27/09/2007 14:43:53

The Irish e-learning company has seen its revenue jump from €9 million for the first six months of 2007, up from €7.5 million for the equivalent period last year.

Thirdforce reported an operating profit of €653,000 against a €1.9 million loss for the first half of 2006.

The company provides e-learning services to organisations in Ireland, the UK, the Middle East and Australia. Its clients include British Petroleum, the Whitbread Group, University for Industry, ECDL and Care UK.

‘Growth’

Thirdforce put much of this improvement down to its acquisition of US firm MindLeaders, which allowed rapid growth in America.

In a statement released today, ThirdForce Chief Executive Brendan O'Sullivan said:

"The current year will be a banner year for Irish e-learning group ThirdForce and the company will emerge as the largest Irish and UK-based independent e-learning company with opportunities for future growth.

‘Amalgamation’

"The second half of this year will see us continue to integrate MindLeaders within the ThirdForce Group and we will have a full six-month contribution from our US acquisition. We see the opportunity to sell our ThirdForce products in the US and MindLeaders products in the UK in 2008. We also see opportunity to create and deliver new products in new sectors such as the Care market," he added.

September 27, 2007

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