Report
Katherine Thompson

Claranova - Boosting organic growth with US acquisition

Revenue growth accelerated in Q419, resulting in Claranova reporting revenue growth of 62% and organic revenue growth of 37% for FY19. Increased investment in customer acquisition was behind much of this growth. The company completed the acquisition of Personal Creations (PC) post year-end, adding a new range of personalised products to the PlanetArt business in the US. We have revised our forecasts to reflect recent trading, the PC acquisition and the recent reverse stock split.
Underlying
Claranova SE

Avanquest Software and its subsidiaries are engaged in manufacturing and distributing of communication software. Co. markets its communication software through Original Equipment Manufacturer (OEM) agreements signed with international modem, computer and cellular phone vendors. Co. also sells its communication software "in shops" through a network of Resellers and, currently, on its Web sites. In addition to the software, Co. provides customers with the software medium (floppy disks or CD-ROM), and an electronics User Guide and online help, included with the product. Co.'s Customer Service department can also provide clients with technical assistance for its products.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Katherine Thompson

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