Information technology distributor, Aptec generated $70 million in sales revenue in the first nine months of the year. Aptec achieved total revenues of $185 million during the same period and is confidently heading towards a 2002 target of $250 million.
“The first six months of the year have seen a 102 percent rise in net income compared to last year, and last year was a very profitable one for us,” said President and CEO of Aptec, Ali Baghdadi.
Aptec has enjoyed 11 consecutive quarters of growth. The first six months of 2002 saw a 51.3 percent growth in revenues compared to the same period last year. In 2001, the first six months saw a 49 percent growth over the same period in 2000.
While the biggest sales volume in absolute terms has been in the Gulf Cooperation Council (GCC), Aptec has seen its biggest sales growth this year in Central and North Africa, excluding Egypt, with a 300 percent hike, and in Saudi Arabia.
The company is focused on trade-only distribution of top industry brands including networking products from 3Com, D-Link, HP and US Robotics. Aptec Group has a large warehousing and logistics center based in Dubai's Jebel Ali Free Zone and operates additional large warehousing facilities in Saudi Arabia, Kuwait, Egypt and Lebanon.
Earlier this year, Aptec opened an office in Turkey and has seven subsidiaries, with in-country offices in the UAE, Saudi Arabia, Kuwait, Egypt, Lebanon, Africa, Turkey and the United Kingdom (UK). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
