GEONG International Ltd. (GNG.L) said that trading for the six months to 30 September 2008 has been strong. As a result, and despite the current global financial downturn, the company remains confident of its results for the year ended 31 March 2009 to be in-line with market expectations.
The company said that during the first half of the year, its traditional PortalAge business has performed particularly well and, at September 30,2008, the company had in place a confirmed order book going forward of GBP 9.6 million. GEONG expects an overall good year with only a minor impact on the level of PortalAge contracts or revenues during the second half.
Sales of the company's SmartBox products continued well in the first half of the year, although it expects growth rates to reduce during the second half as a result of a general downturn in the Chinese economy. However, the company believes that the strengths of its PortalAge offering overcome any slowdown SmartBox faces and will ensure the company achieves market expectations at the year end.
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