Swiss fintech Crealogix increased its sales by 11 percent in the first half of the business year. Its focus is on the markets outside Switzerland.

Crealogix, which provides software and IT services to the finance industry, had sales of almost 40 million Swiss francs in the first six months of the year 2017/18, the company said on Tuesday.

The Zurich-based company generated 58 percent of sales outside its home market, the first time it broke through the 50 percent limit, it said.

Profit Doubled

The Ebitda margin dropped slightly to 11 percent. Net income doubled to 1.55 million francs compared with the same period a year earlier.

Crealogix expects sales in the full year to increase about 15 percent. The company in the medium term aims for annual sales growth of more than 20 percent. The fintech wants to generate about 70 percent of its sales outside the home market of Switzerland.