Totvs touted as IT company of the year

Wednesday, August 31, 2011

Brazilian largest software group, Totvs, has been named "IT company of the year" by local daily Valor Econômico, the newspaper announced on its website.

The daily also recognized the company as a 2011 "value enterprise" (Empresa de Valor).

Valor Econômico's "Valor 1,000" list outlines the 1,000 biggest Brazilian companies by net revenue. The newspaper also highlights the top 25 enterprises according to their business segment, where Totvs was fingered as the frontrunner for the IT sector.

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Totvs' net profit for the 1H11 was 69.7mn reais (currently US$44mn), up 11.5% from the same period last year. Net revenue rose 16.9% to 620mn reais, and Ebitda grew 16.9% to 144mn reais.