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SENASTE
Gofore's November sales clearly missed our expectation and organic growth was just c. 5% (SEB estimate). In Q3, organic growth was still 20% and we had expected organic growth of 16% for Q4 (October was c. 18%). However, headcount is also increasing by less that we had thought. We flag that Gofore has been able to outperform its markets recently, hence the slowdown does not come as a surprise- to us.
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