Gofore: Another month of sales ahead of our estimate - SEB

In August, Gofore continued to deliver monthly sales data slightly ahead of our estimate. Organic growth reached 4%, while we had input growth of 3%. Also the total FTE was slightly lower than we had expected (thanks to subcontracting), which is a good sign for Q3 margin development. However, the company accelerated its recruiting, which to us indicates continuing growth momentum in H2.

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