Barcelona, 2 June 2010. – The GFT Group, a global provider of Information Technology (IT) services, has registered a remarkable increase in its revenue and earnings during the first quarter of 2010. Revenue to 31st March 2010 rose to 54.43 million euros, obtaining 1.2 million euros more than in the previous financial year. GFT Group’s gross profits climbed to 1.62 million euros, 49 per cent more against the first quarter of the previous year (1.09 million euros). This growth, together with a strong increase in demand for IT solutions in the corporate and investment banking sector in the US and British markets, has enabled GFT to improve its position and to place its stakes on new work posts being generated. The group had 1,149 staff in March, against the 977 it was employing a year ago.  
 
The group’s Spanish subsidiary, GFT IT Consulting, has significantly contributed to this growth in staff numbers as it increased its workforce at the end of the year thanks to a new outsourcing contract which involves the company managing the maintenance and development of IT applications for one of the country’s major banks. By the end of 2010, the Spanish subsidiary expects to increase its staff levels by 12%, counting on about 100 new collaborators.

The United States and the United Kingdom have started to show signs of economic recovery within the scope of the world crisis and are once again experiencing a growing demand for IT solutions in the corporate and investment banking sector. The improvement in these markets has helped GFT boost its growth in Spain thanks to its Global Delivery Model. This model enables GFT to make available to any client an international network of more than 1,100 professionals boasting multidisciplinary knowledge and experience, distributed among seven countries. Through this system, the company assigns the most appropriate expert to the needs of each project, regardless of their habitual location. A local manager, close to the customer's location, coordinates the entire process. The Global Delivery Model enables its Spanish subsidiary, which has the greatest number of employees in the group, to manage projects in the United Kingdom, Germany and the United States, among other countries. In the next few months, it is expected that demand will grow.

“We expect a positive development of our business during 2010. The demand for outsourcing solutions and IT projects in the banking sector will continue to grow, while at the same time we are seeing that there is an increasing demand for IT applications for Mobile Banking. With our Mobile Finance Competence Centre, created in Barcelona, we are focusing on offering our customers innovative solutions to mobilise their business processes,” affirms Carlos Eres, Managing Director of GFT in Spain.