Wednesday, 14 November 2007

Datacraft Reports FY2007 Growth

Singapore based IT services and solutions company Datacraft reported its revenue for financial year 2007 with a 20 percent increase from the year before at USD 580.8 million.

The organisation said its growth was evenly spread between the services and hardware businesses which reported growth of 20 percent and 21 percent respectively.

"By any standards, FY2007 has been a record year – with record annual revenue, strong Q4 results and good dividends. It crowns a five year period of solid track record with top line growth from US to US bottom line growth from US loss to US profit; and positive cash generation every year," said Datacraft's chief executive officer Bill Padfield.

"I am also very pleased to note that we were not only able to accelerate top line growth to 20% over last year, we also grew our gross margin to 19.1%,” said Padfield.

From a geographic perspective, Datacraft said all of its four major regions achieved revenue growth, with particularly strong performances in India and Greater China. Most Asean countries also performed well with higher revenue and profitability, but this was partially offset by a lower contribution from Thailand. Japan, while still sustaining a full year operating loss, has shown encouraging improvements in business momentum and profitability in Q4.

“Asia continues to offer exciting growth opportunities and I believe Datacraft is well positioned to benefit from this and will continue growing its market leadership position given its strong fundamentals. We have a proven business model that delivers consistent, positive results and strong cash flow, resulting in a strong balance sheet with no debt,” added Padfield.

During the year, Datacraft launched its vertical industry initiatives in line with its strategy of extending its market focus and penetration in four key industries - Financial Industry Services, Media and Communications, Manufacturing and Travel & Transportation.

It has done this by aligning its sales, solutions and marketing with the vertical industries in order to grow its market share.

This focused strategy will also provide the Group with a single view of its clients for better traction and engagement, which will be fully implemented across the region in FY2008.