|By RealWire News Distribution||
|July 28, 2014 04:26 AM EDT||
28 July , 2014 - London, UK - Tinubu Square, the trusted source of credit risk solutions for trade credit insurers and businesses, has followed its strong trading performance during 2013, with the announcement that it has achieved a 16.8% net profit margin during the first half of 2014. To maintain this momentum and further expand abroad, Tinubu has added to its management team with the promotion of Olivier Placca to the Board of Directors and the appointment of a new VP for the APAC region.
In line with the objectives set in 2013, Tinubu Square has achieved an EBITDA of 30.59% by end-June 2014.
This performance is largely due to a strategy that enables the company to adapt to market conditions in overseas markets, and has resulted in an increase in sales outside Europe of 38% to end-June exceeding, by far, the average across the software and IT services industry.
"Our international strategy has proven to be a winning formula. It has aimed to benefit from opportunities in growing markets and also to circumvent the rigidities and the reluctance of the French market. This excellent first half performance and the indications of further growth to come have prompted Tinubu Square to reinforce and expand its management structure. In this context, I want to build the management team which will help to support the company over the next ten years and will exploit the tremendous growth potential of this business model that has proven its profitability. "Said Jérôme Pezé, President of Tinubu Square.
Olivier Placca joins the board to replace Pierre-Emmanuel Albert, who left as Managing Director in April 2013. At an international level, the newly created position of Vice President APAC is entrusted to Isabelle Lunven.
About Tinubu Square
Tinubu Square's mission is to give our clients better control, visibility & management of their trade credit risk. Tinubu Square's Risk Management Center (RMC), a cloud-based SaaS platform is a ledger management & credit insurance policy management tool which can eliminate fragmented credit management systems. This allows our customers to gain a consolidated view of risk per business unit or group wide. As an addition to our software offering, we are able to supply our Credit Risk Intelligence reporting and Risk Analyst advisory services. This gives companies the true picture of their customers' financial health across their enterprise, from sales and marketing through the entire order-to-cash cycle. As a result, you can manage your customer credit exposure at local and international levels, improve cash flow, secure the value of receivables as an asset on your balance sheet and strengthen your financial position for short-term bank credit. Based in Paris, Tinubu Square has offices in London, Brussels, Singapore and Mumbai. www.tinubu.com
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Julie Kirby, Ascendant Communications
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