Bigger, faster, more
ComputerLand, which provides IT services for corporate and institutional clients, posted its "best year in history" according to the group's president, Tomasz Sielicki. Revenues rose to nearly zł.740 million last year, up 27 percent from 2003. Over the same period, profits rose a whopping 60 percent from zł.8.6 million to zł.13.7 million.
Despite the enthusiasm, these numbers were neither completely unexpected nor, except for the record high revenues, terribly historic. Last year's boom resulted in growth in all of ComputerLand's major areas of operation, especially banking, which accounted for zł.270 million, or 36.5 percent, of the group's income. In 2000 and 2001, the company recorded higher net profits-zł.25.1 million and zł.27.7 million respectively-on the back of much lower revenues.
Still, company officials are brimming with confidence. "For sure our net profits this year will at least double," says Sielicki.
The company expects revenues from banking to rise up to 10 percent this year, and up to 40 percent from public-sector projects. Over the next three years, the group forecasts a zł.400 million rise in income from the utilities market and zł.350 million from telecommunications.
In addition, it is now planning an aggressive acquisition strategy aimed at foreign markets, especially Ukraine and Russia. "We will buy faster and grow faster," Sielicki says. At least zł.60 million will be spent buying up other firms this year-double the zł.30 million it spent buying four companies last year.
Despite the enthusiasm, these numbers were neither completely unexpected nor, except for the record high revenues, terribly historic. Last year's boom resulted in growth in all of ComputerLand's major areas of operation, especially banking, which accounted for zł.270 million, or 36.5 percent, of the group's income. In 2000 and 2001, the company recorded higher net profits-zł.25.1 million and zł.27.7 million respectively-on the back of much lower revenues.
Still, company officials are brimming with confidence. "For sure our net profits this year will at least double," says Sielicki.
The company expects revenues from banking to rise up to 10 percent this year, and up to 40 percent from public-sector projects. Over the next three years, the group forecasts a zł.400 million rise in income from the utilities market and zł.350 million from telecommunications.
In addition, it is now planning an aggressive acquisition strategy aimed at foreign markets, especially Ukraine and Russia. "We will buy faster and grow faster," Sielicki says. At least zł.60 million will be spent buying up other firms this year-double the zł.30 million it spent buying four companies last year.
