{"id":595,"date":"2007-11-09T00:00:00","date_gmt":"2007-11-09T00:00:00","guid":{"rendered":"https:\/\/www.asbis.com\/news\/?p=595"},"modified":"2023-07-28T14:33:24","modified_gmt":"2023-07-28T14:33:24","slug":"asbisc-marks-12-years-announces-q3-results","status":"publish","type":"post","link":"https:\/\/news.asbis.com\/news\/press\/asbisc-marks-12-years-announces-q3-results\/","title":{"rendered":"ASBISc Enterprises Marks 12 Years, Reports Strong Q3 Results"},"content":{"rendered":"<p><strong>ASBIS Group&apos;s head company  celebrates 12 years today since its incorporation in Cyprus on 9 November 1995.  After a dozen years of steady growth the company has again announced strong  financial results. The announcement follows the company&apos;s successful listing at  the&nbsp;<\/strong><strong>Warsaw Stock Exchange<\/strong><strong>&nbsp;on 30  October 2007.<\/strong><\/p>\n<p><img style='MARGIN: 0px 10px 10px 0px' alt='ASBIS Reception Desk' src='http:\/\/www.value4it.com\/attach\/get\/20071109134939460977000000.JPG' align='left' border='0' \/>According to the <a href='http:\/\/www.asbis.com\/Financial-Reports.cfm'>financial report<\/a> published  today, during the three months from 1 July to 30 September 2007, the Group has  experienced significant growth in its revenues. The Group&apos;s revenues increased  to U.S. <strong>$933 million<\/strong> for the nine months ended 30 September  2007 from U.S. $667 million for the nine months ended 30 September 2006,  representing an <strong>increase of 39.9 per cent<\/strong>., while the Group&apos;s  net profits (after taxation) increased to U.S. <strong>$9.3 million<\/strong> for  the nine months ended 30 September 2007, from U.S. $4.9 million for the nine  months ended 30 September 2006, representing <strong>an increase of 89.8 per  cent<\/strong>.<\/p>\n<p><em>Siarhei Kostevitch<\/em>                             , Chief Executive of ASBIS,  commented:<\/p>\n<p>&nbsp;<\/p>\n<blockquote><p>&quot;We are pleased and proud to report these results and have further progressed  our strategy of further developing our distribution business alongside our own  brand and finished products. This growth is a result of hard work and commitment  by the management and now the company managed to raise funds from Warsaw Stock  Exchange, will continue to enhance shareholders value&quot;.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p>Almost all product lines that the Group carries have experienced growth in  both units and in money. The most significant growth factor was the  <strong>sales of software licenses<\/strong> throughout all countries  of the operations. This was linked to steps undertaken by several governments of  the countries in which the Group operate to promote the use of software from  legal sources.<\/p>\n<p>Another major factor for the increased revenues was an introduction of a  wider portfolio of the so called <strong>&quot;A-branded&quot; laptops<\/strong> in several  countries where the Group operates. In particular, the Group has secured  distribution agreements with <strong><a href='http:\/\/www.it4profit.com\/ecatalog\/userend\/shopITProdAsb.jsp?SUPPLIER=701&#038;PATERN=dell'>Dell<\/a><\/strong> in countries like Russia,  United Arab Emirates and other countries of the Gulf area. This has had a  dramatic impact on the average sales price for the Group&apos;s products (since  laptops are high value products) and, together with increased volumes, has  significantly increased the revenues.<\/p>\n<p>Sales of <a href='http:\/\/www.it4profit.com\/ecatalog\/userend\/shopITProdAsb.jsp?SUPPLIER=701&#038;PATERN=toshiba'>  <strong>Toshiba laptops<\/strong> <\/a> have also increased, allowing the  Group to enjoy a leading position in the laptop segment in all countries, in  which it is allowed to sell Toshiba laptops. Strong demand from countries of the  former Soviet Union, as well as Central and Eastern Europe has additionally  boosted Group&apos;s sales revenues.<\/p>\n<p>The <strong>stabilization of commodity prices<\/strong> (CPUs, central  processing units, and HDDs, hard disk drives) and the usual increased demand in  September also contributed to the strong sales growth during the quarter ended  30th of September 2007.<\/p>\n<p>The price war between two major <strong>suppliers of  CPUs<\/strong>         (Intel and AMD) has stopped  and the introduction of new technologies by both of these vendors has also  contributed to an increased average selling price (&quot;ASP&quot;) of these products,  which again contributed to an increased revenue.<\/p>\n<p><img style='MARGIN: 0px 10px 10px 0px' alt='Prestigio monitors' src='http:\/\/www.value4it.com\/attach\/get\/20071109145947498467000000.jpg' align='left' border='0' \/>An improved product mix has led to an increase in the <strong>gross profit  margin<\/strong> and therefore to the  overall gross profit for the Group, which has increased by 42 per cent compared  to the corresponding period of 2006. This was achieved as a result of the  Group&apos;s ability to enhance its product portfolio and to balance sales of  finished products (including laptops) and private labels <a href='http:\/\/www.prestigio.com'>Prestigio<\/a> and <a href='http:\/\/www.canyon-tech.com'>Canyon<\/a>                                                        in all countries of its operations.<\/p>\n<p>The Group&apos;s <strong>net profits<\/strong> (after taxation) increased to U.S.  $9.3 million for the nine months ended 30 September 2007, from U.S. $4.9 million  for the nine months ended 30 September 2006, representing an increase of 89.8  per cent. The Group has continued to enjoy economies of scale in all countries  of its operations which contributed to an increase in net profitability. The  increase in net profit margin was expected to follow the increase of revenues  since a vast majority of the Group&rsquo;s expenses is fixed and the increase in  revenues translates into increased net profits.<\/p>\n<p>The <strong>net profit margin<\/strong> has increased to 1% as opposed to  0.74% for the same period last year. This increase was a natural consequence of  the increased gross profit margin, as well as a tight cost  control.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASBIS Group&apos;s head company celebrates 12 years today since its incorporation in Cyprus on 9 November 1995. After a dozen years of steady growth the company has again announced strong financial results. The announcement follows the company&apos;s successful listing at the&nbsp;Warsaw Stock Exchange&nbsp;on 30 October 2007. According to the financial report published today, during the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-595","post","type-post","status-publish","format-standard","hentry","category-press"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ASBISc Enterprises Marks 12 Years, Reports Strong Q3 Results - ASBIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.asbis.com\/news\/press\/asbisc-marks-12-years-announces-q3-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASBISc Enterprises Marks 12 Years, Reports Strong Q3 Results - ASBIS\" \/>\n<meta property=\"og:description\" content=\"ASBIS Group&amp;apos;s head company celebrates 12 years today since its incorporation in Cyprus on 9 November 1995. 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