News

GFG meets 2006 product development milestones

June 22, 2006

AUCKLAND, New Zealand - GFG Group Ltd. reported strong earnings for the fiscal year ended March 31.

According to a news release, GFG's revenue jumped 68 percent from the same period in 2005.

This year, GFG said it expects growth to continue, based on new investments.

Investments this year included: the redevelopment of its flagship card-management software, GFG:UniCARD; the launch of mobile-payments software GFG:Mobile; and the introduction of a high-demand ATM testing and simulation product, GFG:Finsim.

GFG:Mobile customers include New Zealand's Vodafone and the Philippines' Smart Communications.

The company also soon expects to announce a mobile-payments deal in North America.

"This has been a huge investment year for us," said Anthony Howard, GFG Group's chief executive. "We have achieved the aggressive product development milestones set at the beginning of the fiscal year and are forecasting strong sales and revenue growth going forward."