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Monday, 13 February 2012

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PC House posts strong 3Q figures

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.

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