Notes from 3rd Quarter Report (Sep 2022)
- Export sales of the Company are roughly 80% of total sales, with the Company’s target being to further increase the export component going forward.
- Growth across all four geographies, with the Middle East Region leading.
- The GCC region has not been impacted by inflation and economic slowdown and there is sustained demand and growth in the region. UAE subsidiary has become a key contributor to the business as the Company has signed key strategic accounts with a diversified portfolio and growth opportunities that are expected to provide the Company with recurring revenue for future growth.
- Systems Arabia has also secured multi-year contracts with Saudi businesses and is fully aligned with Saudi Vision 2030 from the technology and digitization perspective.
- The Company envisages opportunities to grow in the financial, telecommunications, and public sector entities of KSA, which has been the core strength of its service offerings.
- In line with Company’s strategy to focus more on IT consulting in all markets with the US and
- Europe at the forefront, the Company expects this growth to continue due to the relevance of the various service domains and technology stack the Company is targeting.
- Systems Ltd., is locking most of its domestic contracts in USD, thereby increasing dollar based revenue for the company and hedging the foreign currency risk.
- To sustain the hyper-growth mode, Systems has hired over 300 software engineers in the 3rd quarter (Sep2022) is quarter and is aggressively working on the training and development of resources to fuel future growth and have a cost-effective HR pool.
- With the strategic collaboration with Sarmayacar and Sharooq Partners, E-Processing Systems (EPS) is deepening its penetration of the micro-retailer base.
- System's associate, Jugnu launched its Buy Now, Pay Later (BNPL) solution for SME retailers earlier this year after securing $22.5 million of funding in series-A from SARY (MENA-based B2B e-commerce giant).
- Gross Profit: Geographical Distribution:
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