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GeoOp shares jump after revenue rises

NZN 11/07/2016 Paul McBeth

GeoOp's NZAX-listed shares climbed 11 per cent after the management app developer said annual revenue beat forecast.

Annual revenue rose to $4.58 million in the year ended June 30, $40,000 ahead of what was projected in an independent adviser's report on the Auckland company's merger with Australian mobile sales app developer InterfaceIT.

Shareholders approved the deal in May, it completed on June 1, and GeoOp said integration was "significantly advanced" with a number of savings already starting to be realised.

The shares jumped 3 cents to 31 cents, the highest level since May 27, valuing the company at $15.3m.

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