Systems has cemented its position as the leading IT company in Pakistan by closing its strongest financial year to date. We have achieved a new milestone in 2018 by crossing the billion-rupee mark and nearly doubling our profits. We experienced massive growth, from Rs. 560 million in our previous year to Rs. 1.06 billion, up by 82.8%.
This exceptional rise in profits is a result of a change in revenue mix with some high-margin, direct-export accounts, controlled growth in cost of revenue, and a decline in distribution costs. Currency devaluation and Systems’ partnership with Microsoft were additional contributing factors. We also made a breakthrough in the European market by establishing an office in Germany and signing on multiple clients.
“I would like to congratulate the entire leadership and management team. This is all because of their hard work!” said an ecstatic Asif Peer on this memorable occasion. “I have accepted another challenge from the board: over 30% growth for 2019, which we will achieve by using the Middle East as a base to attract more business inside the US and European markets. I have complete confidence that my team will deliver. We have unlimited potential to surpass our targets and grow to 10,000 employees in the next 5 years.”