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Gofore: July-August sales report; Silent summer - SEB

Gofore reported July-August sales some 5% below our estimate and also 5% below last year's level. The daily sales/FTE came in some 4% below our estimate, with the note of end-August billing rates being already close to previous-year levels. Overall, the report shows a slower start to H2 than expected. Yet, we note that the summer months are seasonally silent and hence far-reaching conclusions should not made.

Gofore reported July-August sales some 5% below our estimate and also 5% below last year's level. The daily sales/FTE came in some 4% below our estimate, with the note of end-August billing rates being already close to previous-year levels. Overall, the report shows a slower start to H2 than expected. Yet, we note that the summer months are seasonally silent and hence far-reaching conclusions should not made.
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