GRG sees 3Q ATM growth

GRG sees 3Q ATM growth
Tags: Asia, Australia & Pacific, Bank / Credit Union, GRG Banking Equipment Co., Ltd, Manufacturers, Public Companies
November 10, 2008

GUANGZHOU, China — GRG Banking Equipment Co. Ltd. saw marked improvements in third quarter profit and revenue.

According to a statement issued by the company, sales revenue for 3Q 2008 totaled ï¿¥242 million (U.S. $35.5 million), up 47 percent the same period in 2007, while operating revenue hitï¿¥784.5 million (U.S. $115 million), up 65 percent from 3Q '07. Net income totaled ï¿¥48.5 million (U.S. $7 million) for the quarter, a 38 percent improvement from last year.

GRG says ATM orders from Bank of China and Agricultural Bank of China, valuing between ï¿¥524 million and ï¿¥624 million, paving the way for GRG's strong growth over the next two years.