March 17, 2020, Lahore – Systems Limited (PSX: SYS) has closed yet another profitable year with consolidated profits of Rs. 2.16 billion, up by 38% from Rs. 1.56 billion in 2019.
Despite the pandemic and economic fluctuations, it has been a great run for the Systems Group. Reflecting a 40% expansion during the year, holding company, Systems Limited was the top performer recording Rs. 7.5 billion in revenue. Systems fetched around 76% of the consolidated net revenue in 2020, which was 5% higher than CY19. The cost of revenues also surged by 28%, standing at Rs. 6.6 billion during the year under review. The revenue growth is contributed by both the company and its subsidiaries, and a significant increase in profits was driven by topline growth.
Systems Limited’s export business in Europe, North America, and the Middle East has increased substantially over this year. There was a huge demand for digital transformation and secure data communication, especially in the retail, finance, and telecommunication sector. Regardless of the imminent economic effects in the market due to the global pandemic, Systems performed well and Asif Peer, CEO Systems Limited, is staying optimistic for the company’s future.
While elaborating on how pandemic has compelled businesses to undergo digital transformation, Asif Peer said that Systems was ahead of the curve already serving its clientele with well-poised and advanced technological solutions.
Emphasizing the way forward, Asif Peer highlighted that Systems Limited is aggressively focused on technologies around Digital, Data, and Cloud. Receiving positive traction from global and future markets as Systems made a successful entry into Europe, Asif Peer is confident in the company’s ability to sustain and maintain a high-growth trajectory.
Founded in 1977, Systems Limited is a leading global technology and business process outsourcing service provider, delivering innovative business solutions and technology-led BPO services. The company prides itself on being the country’s biggest IT exporter for 2019 and recipient of the Forbes Asia’s 200 Best Under A Billion Award 2020. Since its inception, the company has constantly reinvented itself by quickly acquiring expertise in new technologies to stay ahead of the curve. With over 3500 employees globally, Systems Limited creates specialized solutions that help its clients around the world drive business results. This has made Systems the most valuable company for digital transformation, IT and BPO & Contact Center services in Pakistan, and among its top-tier global clientele that includes Fortune 500 and Forbes Global 1000 companies.