PC House posts strong 3Q figures
Sanjeevi Jayasuriya
PC House PLC, Sri Lanka’s leading ICT and Solutions provider posted
strong 3rd quarter figures (October 1 to December 31, 2011) setting the
stage for a grand finale to their financial year. The Group posted a
gross profit of Rs. 220 million, an increase of 15 percent from their
previous year’s Q3 results, allowing them to post a respectable net
profit of Rs. 53 million.
PCH Building |
The improvement in the PCH Groups’ financials for 2011 can be
attributed to effective organization-wide re-structuring and the
implementation of a new efficient cost control, resource management
system being implemented within the company. Furthermore, in the last
three quarters the Group expanded its nationwide branch network to 38,
opening five new branches and upgrading the Kandy branch to a 9to9 IT
retail store.
PCH Group Chairman
S.H.M. Rishan |
We were more aggressive this year in establishing businesses and in
investments where an overall growth was recorded. The company is heavily
in to BPO and KPO businesses. Our highest growth generally comes from
the final quarter and we expect this trend to continue in 2011 as well,
PCH Group Chairman S.H.M Rishan told Daily News Business.
“Although the financials for Q3 are impressive, we have made certain
changes within the Group that will augur well for the group in the near
future. However, this financial year has been an exciting journey for us
at PCH which has opened us to new and exciting opportunities, and
assured us that greater things are yet to come,” he said.
The PCH Group invested on solution based businesses including ERP
solutions and anticipates healthy growth to end the year.
The Group’s BOI approved subsidiary Procifinity Ltd, which
specializes in handling the outsourcing needs of local and
internationally-based enterprises also added to the Group turnover.
Apart from their BPO service offerings such as digitization, and contact
centre solutions, the company now offers KPO solutions, from finance and
accounting to marketing services.
In the past three quarters (April to December 2011) the PCH Group has
achieved a revenue of Rs. 2.9 billion, an increase of 16 percent from
the same period in 2010 making an increase in gross profit of 21 percent
and net profit of 13 percent respectively for the same period, thus
highlighting stable quarterly growth and effective management while
achieving targets and diversifying.
The PC House PLC posted a gross profit of Rs. 210 million in the
third quarter, an increase of 15 percent compared to the same period in
2010. Net Profit also increased by a noteworthy 20 percent compared to
Q3 2010 to Rs. 64 million. |