PC House PLC, a provider of ICT solutions, has posted a group revenue of Rs. 1,004.95 million for the first quarter of the current financial year, up 24.6 percent from Rs. 806.56 million recorded a year earlier while net profits were up 31 percent to Rs. 57.7 million.
Commenting on the first quarter results S. H. M. Rishan, Chairman of PCH stated, "Q1 has set the stage for the rest of this financial year and has laid the foundation for further growth. The reason for this amazing growth can be attributed to the rapid rate with which ICT has developed. In the last year alone the ICT workforce of the nation doubled, and this kind of growth has been the driving force of PCH, powering growth in the traditional areas of our business as well as in BPO and solutions. It is for this reason that we have focused on developing this aspect of our operation as well which led us to offer ERP solutions through SAGE ACCPAC and Virtualization which will offer an edge to local and multinational corporates, an edge that we believe will be absolutely necessary as the corporate sector becomes more competitive."
In comparison to the group’s Q1 results in 2010, net profits in 2011 had increased by Rs. 13.67 million to Rs. 57.69 million, which is an increase of 31.07 percent. In addition, there has been significant growth in the profit with operational activities increasing by 16.23 percent to Rs. 109.13 million. This significant increase in PCH profits is a clear indicator of the stability of the company, and the improved brand identity they have created over the recent years through consistent quality and service, the company said in a statement on Wednesday (10).
PCH profits were also a significant contributor to the outstanding profits posted by the Group, with revenue of Rs. 969.55 million, an increase of 35.7 percent from the 2010 Q1 results. The Net Profit of Rs. 57.24 million is indicative of an increase of 67.68 percent. PCH also posted a 36.6 percent increase in profits from operational activities contributing Rs. 106.99 million to the company’s declared final profits.
"These results can be attributed to the expansion of the PCH distribution network which expanded recently to Kegalle, Matale and Mullaitivu. In addition to this the range of products under the PCH name has consistently grown and diversified keeping them at the cutting edge of ICT retail. The company has also been implementing revolutionary strategies through effective management, automation and effective HR practices bringing out the best in the dedicated and hard working team at PCH, whilst contributing to the growth in all areas of business including corporate, regional and retail," the company said.
Rishan further stated, "Over the years, we, at PCH have grown from strength to strength and have sought to be a driving force that spearheads the growth of ICT in Sri Lanka. Seeing profits such as these in such an incredibly competitive market has only further assured us that the path we have taken in recent times is absolutely spot-on and we will continue to expand in the areas of distribution, and solutions development while diversifying and being the benchmark in ICT."
PC House was incorporated as a limited liability company in the year 2000, after having commenced business in 1997. Its Board of Directors consists of Messrs S.H.M. Rishan, Mangala Boyagoda, Sarath Wikramanayake, ModarageThilakasiri, Shanti Kumar Nadarajah, Kuvera de Zoysa and Ms. Sharmila Rishan.
source - www.island.lk
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