G&L sees Central American markets driving export growth

- Wednesday, March 16, 2011

G&L sees Central American markets driving export growth

Argentine software firm G&L expects exports this year to Central American markets to increase international contributions to overall revenues, company director Edgardo Seijas told BNamericas.

"We are focusing on expanding our international business. This year we expect to see increasing business activity in Panama, Costa Rica, Honduras and the Dominican Republic. We have been promoting our offering in these markets, and we expect to capture this growth opportunity," Seijas said.

Exports will account for some 12% of the company's total revenues this year compared with some 8% last year, he added, and in two years that figure could rise to 15%.

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For 2011, G&L expects overall revenues to expand 25-30% compared with 74mn pesos (US$18.3mn) in 2010. Revenues last year climbed 27%, the executive said.

G&L is also starting to capture clients in the Brazilian market, while Spain, Uruguay, Mexico and the US are considered consolidated markets for the company.

Seijas said that apart from its traditional software factory offering, the company expects to see demand for software solutions for the banking segment in foreign markets.

In the local market, most of the company's revenues are generated by sales to financial institutions, telecommunications operators and IT firms. "IT and telecoms operators account for 50% of our local revenues, while banks account for approximately 40% of revenues," he added.