European Information Technology (IT) vendor Fujitsu Siemens Computers has outperformed its earlier forecast by achieving a gross profit of eight million euro ($9.38 million) for the financial year from April 2002 to March 2003. In the Middle East, the company has been making significant inroads despite its relatively recent entry in the regional market, according to a company press release.
"The success of Fujitsu Siemens Computers in dislodging established players and outperforming the market is best seen in the Middle East where we have emerged as the number 4 IT vendor in just two years of operations," said Dirk de Waegeniere, vice president, International Sales.
"In the calendar year 2002, FSC recorded an overall growth of 53 percent in the Middle East. The return of buoyancy to the IT market after the Iraqi crisis, coupled with FSC's dynamic new strategies for the region, point to a high success performance in 2003."
FSC's focus on the parallel strategies of Mobility and Business Critical Computer continued to drive its growth in key markets, including the Middle East, as witnessed by record gains in mobile PCs in the United Arab Emirates (UAE) and Saudi Arabian markets. In the UAE, FSC recorded a growth of 345 percent in mobile products and in Saudi Arabia it saw a 320 percent increase in notebook PCs.
"We have put in place focused strategies, keeping in mind the region's needs, preferences and priorities," said de Waegeniere. "We will continue to be driven by the company's goal to outperform the market while improving profitability. The Middle East is poised at a crossroad where the government and businesses are driving the IT growth, because of the resolve to stay en par with the rest of the world."
The results for the financial year ending March 2003 have surpassed the CeBIT 2003 forecast of gross profit of four million euro. Total revenue for the period under review remained flat at Euro 5,337 million, compared to Euro 5,434 million in the previous financial year. The company achieved an operating profit of Euro 63 million for the complete financial year, an improvement of Euro 33 million over the previous year.
"We achieved a better product mix with more sales in enterprise products in February and March which helped increase profit before tax. Additionally, our strategic implementation and tight cost management has continued to positively impact the company," said Adrian v. Hammerstein, CEO, Fujitsu Siemens Computers.
FSC's success in outperforming the market can be seen in the IDC market data for the first quarter of 2003. Against a market decline of minus 2.4 percent in Western Europe, FSC achieved a revenue growth of 5.7 percent year on year in the PC and Intel-based server segment.
European computer company Fujitsu Siemens Computers serves the needs of large corporations, small- to medium-sized enterprises and consumers the company operates in all key markets across Europe, the Middle East and Africa. — (menareport.com)
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