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SENASTE
Gofore posted another solid monthly sales report with November sales increasing by 52% y/y. We calculate that the organic growth in November was still above 30% (on very strong comps), which tops our organic growth estimate of 22% clearly. The continued hefty increase in headcount indicates also that the growth momentum is not losing power near term. Daily invoicing / FTE came in 2% above our estimate. All in all, our read-x on the November data is positive.
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