GKO grows revenues 20% to US$3.59mn in 2010

- Tuesday, January 18, 2011

GKO grows revenues 20% to US$3.59mn in 2010

Brazilian software company GKO Informatica grew revenues 20% to 6mn reais (US$3.59mn) in 2010, the company said in a statement.

GKO specializes in IT solutions focused on logistics for the freight industry and last year signed contracts with enterprises such as Adidas, Diageo and Xerox.

"This was a year to plant seeds. There was a lot of interest from companies wanting to reduce transportation costs and monitor their processes," said business director Ricardo Gorodovits.

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GKO invested 500,000 reais in Logpartners - a new outsourcing unit offering transportation management services - which returned 600,000 reais by the close of 2010. Gorodovits expects Logpartners to account for some 50% of GKO's revenues within a few years.

The company also opened its portfolio to small and medium-sized shipping firms last year, allowing them to finance software purchases with credit directly from GKO or through national development bank BNDES.

This year, the company expects to boost revenues with the launch of a web-based version of its GKO Frete software. GKO was founded in 1987.