Gulf Business Machines (GBM) today announced that it foresees a significant growth in business in 2010, even as the company celebrates its 20th anniversary this year.
GBM, which is the region’s leading IT solutions provider, plans to grow its business by 10 to 12 percent as IT spend is widely expected to increase in the Middle East. The company also revealed plans to maintain an overall growth rate of between 10 and 15 percent over the next five years.
These forecasts were announced at a series of internal ‘kick-off’ meetings held in Dubai and other locations in the region. The meetings, which form part of GBM’s annual review and are an essential part of its planning and strategizing, include in-depth analysis of the company’s performance in the last year and business growth predictions for 2010.
In its very first year of operations in 1990, GBM’s revenue totaled US$50 million which increased to US$361 million in 2009. Over the past twenty years, GBM has consistently grown from strength to strength in all its operating markets from increasing its customer base to partnering with the IT industry’s global names such as IBM and Cisco. In addition, GBM has become a significant player in the region’s e-Government evolution partnering with governments in UAE, Oman, Bahrain, Qatar and Kuwait.
“Over the past 20 years, GBM’s revenue has grown at a compound rate of 10% which is significant considering the good and bad years in the two decades,” said GBM’s CEO, Cesare Cardone. GBM’s strength lies both in our excellent reputation as one of the region’s leading IT solutions providers and in our pool of over a thousand experienced professionals who provide best-in-class support services to our customers,” “As we complete twenty years, we look back with pride at our accomplishments and our heritage. At the same time we’re looking forward to building on our achievements and continuing our consistent growth over the next few years.”
Cardone added: “We are confident that 2010 will witness a recovery across the IT industry. It will be a challenging year, but we have aggressive plans to grow sales figures by around 10-12% and continue to move towards higher value solutions for our customers. Looking beyond 2010, we aim to continue growing at a rate between 10 and 15 percent over the next five years.”
With broad experience across servers, storage, software and technical support, GBM has many success stories in delivering innovative products and services that helped meet their customers’ business goals in the most effective ways. The company’s achievement over the years is highlighted by their continuous investment in ensuring a strong, unrivaled customer value proposition.
