Systems Limited, Technology and Telecommunication company, is going to be the major beneficiary of surge in software consultancy exports.
Software consultancy services posted growth of 52 percent during the month of April to just shy of US$50mn mark, this takes total services exports under this head to US$443 million during the period July – April of this fiscal year, up by 28 percent.
This substantial growth is the result of government accommodative and encouraging policies specifically for Information and Technology Companies.
Systems Limited (SYS PA), is principally engaged in the business of software development, trading of software and business process outsourcing services. Surge in company’s profitability to PKR 618 million during first quarter of this calendar year against PKR 533 million during the first of previous calendar year is the clear manifestation of the above mentioned increase in IT exports.
Systems Limited management attributes increase in Systems Limited profitability to (1) increased business from Europe and North America region, (2) higher domestic sales due to automation drive by public/private sectors and (3) increased contribution of maintenance contracts revenue from Middle East and North America region. However, exchange loss due to strong performance of rupee has curtailed gains of the company.
