Kiwi GFG Group set for another year of growth

Overseas business key to the company's growth

New Zealand-based payment software and services company GFG Group has posted a revenue increase of 10 percent for the year ending on March 31 2011 and is forecasting another year of growth during 2012. According to the company’s executive director Dennis Row, this result is directly related to deals with ten new overseas customers in Asia Pacific, Africa and the Middle East.

“The lingering effects of the global financial crisis have been outweighed by the continuing convergence of payment systems, driving demand for proven payment solutions which enable customers to make payments with mobile devices as well as traditional credit and debit cards,” says Row.

The company has recently set up a new branch subsidiary and sales office in Dubai, to support sales in the Middle Eastern and African markets.

“The 2012 financial year has kicked off very solidly. We have strong sales momentum, matched by a strong balance sheet. We have a strong competitive edge in our ability to provide bank-grade mobile payments for emerging markets. Over the coming months we will be announcing strategic new sales in all our key target markets. We believe the best is yet to come,” adds Row.

The GFG group’s core research and development team is based in Auckland but the company has consulting and support staff operating in Melbourne, Manila, Singapore and Dubai.