After Surpassing The Hub Power Company Limited today TRG has become 4th valuable company in PSX with KSE100 index weight of 4.15%. TRG can become part of top 3 companies in KSE100 index once it price crosses PKR185 in the market as a result TRG weight in the index will be above 4.35% weight of LUCK in KSE100 Index. TRG has today gained momentum on the back of surprise result by announcement by its subsidiary IBEX Limited.
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IBEX Limited (“ibex”), a leading global provider in business process outsourcing (BPO) and end-to-end customer engagement technology solutions, announced financial results for the fourth quarter and fiscal year ended June 30, 2021. IBEX revenue increased 9.5% to $443.7 million, compared to $405.1 million in the prior year. IBEX reported net income was $2.8 million, compared to net income of $7.8 million in the prior year.
“I am so proud of what ibex has accomplished in fiscal year 2021” said Bob Dechant, CEO of ibex. “We completed a record year with revenues of $443.7 million, approximately 10 percent organic growth, and adjusted EBITDA of $66.2 million, a 20 percent increase, despite an incredibly challenging COVID environment.”
Dechant continued, “In fiscal year 2016, we pivoted our business away from a commoditized voice-only business and shifted focus to the digital-first marketplace where we can fully leverage our differentiated capabilities. As a result of this shift, these new customers now represent $230 million, or 52%, of our current revenues, and have grown at a 5-year CAGR of 84% with an equally impressive 40% increase this past year. I am proud to announce that we have also retained 100% of our top 20 clients for the fiscal year, extending this achievement to four consecutive years which is further evidence of continued client confidence.”
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“Additionally, to support our growth we added over 3,300 new seats – a 34% increase – to our high-margin nearshore and offshore footprint. With the business we won from new and existing clients in fiscal year 2021, we also established a revenue backlog of another 3,200 seats that are expected to launch in the first half of fiscal year 2022 to service this demand, which will bring our total footprint to over 21,000. More importantly, we are delivering these record margins while our regions are currently at 50% usable capacity due to social distancing restrictions in place; we estimate that this existing footprint would afford us additional revenue potential of $200 million annually in a pre-Pandemic operating environment.”
“Our balance sheet transformation is almost complete with a growing cash balance. With a high-performance, customer-first business model, the wind at our back, and high ROI opportunities in front of us, we’re positioned well for flexible and highly attractive capital allocation and superior compounded shareholder returns.”
IBEX entry into Honduras
IBEX a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced its entry into Honduras with the scheduled opening of its new customer experience delivery center in the heart of Tegucigalpa.
“In two short years, we have seen our nearshore and offshore capacity grow by 125 percent. This has helped position ibex as a leader of BPO and CX services across both Nicaragua and Jamaica,” said Bob Dechant, CEO, ibex. “We are excited to leverage this success in those two countries with our entry into Honduras, our seventh country, providing immediate impact to the local economy with hundreds of new jobs, while adding yet another CX delivery center to support our growing list of clients and accelerate growth in our high margin regions.”
ibex is expected to hire more than 400 people in the next month to open and operate the new Honduras delivery center, with plans to grow the facility and its employee base to over 2,000 employees in the next two years. Total annual salaries for new ibex employees operating the center are expected to be approximately US $3M during the first 12 months.
To support the overall effort, ibex has teamed with Grupo Karim’s to help with present and future facility growth, as well as recruiting efforts, local government relations and associated registration requirements. Grupo Karim’s is a strategic global player with core business in the real estate and textile industry that specializes in providing high quality services that help facilitate unique investment opportunities.
“It is with great pleasure that we welcome ibex, an established leader in the BPO industry, to Honduras,” said Yusuf Amandi, CEO, Grupo Karim’s. “These new jobs will improve the lives of many Hondurans while helping position Honduras as a top BPO location in Latin America. This is part of our permanent commitment and everyday efforts to generate quality jobs in the country, and hopefully, inspire and motivate our youth to seize this opportunity to grow professionally.”
The new facility, located in the Novacentro Mall at Centro Comercial Los Próceres, entre Boulevard Morazán y Avenida La Paz, is scheduled to open in November of this year. Currently, ibex is working to establish a local management team, with agent hiring to begin next month. ibex currently operates 32 customer experience delivery centers across the United States, Jamaica, Philippines, Nicaragua, Pakistan and Senegal.
About IBEX Limited
IBEX Limited delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of 32 operations facilities around the world, while deploying next-generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.
IBEX leverages its diverse global team of 27,000 employees together with industry-leading technology, including its innovative Wave X platform, to manage over 100 million critical customer interactions (as of June 30, 2021), driving a truly differentiated customer experience.
