Gofore’s Q1 growth accelerated from the already strong pace at end-2021, whilst the increase in the number of personnel shows the company expects solid demand to continue in the coming quarters. Despite the minor miss in profitability – we have cut our 2022 EBITA estimate by 2% – we believe the investment story is intact. The company is outgrowing the market and has hefty acquisition capacity to boost is pace of growth.
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