{"id":78,"date":"2008-03-05T00:00:00","date_gmt":"2008-03-05T00:00:00","guid":{"rendered":"https:\/\/www.asbis.com\/news\/?p=78"},"modified":"2023-07-28T14:31:51","modified_gmt":"2023-07-28T14:31:51","slug":"asbis-on-high-after-spike-in-mea-sales","status":"publish","type":"post","link":"https:\/\/news.asbis.com\/news\/media\/asbis-on-high-after-spike-in-mea-sales\/","title":{"rendered":"Middle East: Asbis on a high after spike in MEA sales"},"content":{"rendered":"<p><em><img alt='' hspace='10' align='left' src='\/attach\/get\/20080305120946630530000000.jpg' \/>By Andrew Seymour on Wednesday, 05 March 2008 <\/em><\/p>\n<p><strong><em><a href='http:\/\/www.itp.net\/news\/512926'>ITP.net<\/a><\/em>:&nbsp;Components distributor Asbis&apos; Middle East and Africa operations appear to be in good shape after registering sales of $39m during the last quarter. The haul, which covers the three months to the end of December 2007, more than doubles the $14m it made in the same period a year ago.<\/strong><\/p>\n<p>In its financial report for the fourth quarter, the Cyprus-based distributor hailed the growing role of its Middle East and Africa operations. Although the MEA territory accounts for just 8% of its business, the company says the &quot;significant growth&quot; it is seeing has led it to make a series of investments in the region.<\/p>\n<p>It has purchased a warehouse in Jebel Ali to support the increasing level of demand that it anticipates, as well as putting together plans for an operation in Saudi. &quot;We are considering opening a new subsidiary in the <strong>Kingdom of Saudi Arabia<\/strong>,&quot; confirmed the company in its report. &quot;This is after <a href='http:\/\/www.asbis.com\/news\/press\/asbis-me-appointed-distie-toshiba-saudi-arabia'>Toshiba franchised Asbis<\/a> for the country. It is expected that this will boost both the revenues and profits from the Middle East region as this is one of the fastest growing markets.&quot;<\/p>\n<p>Asbis Middle East and Africa was the company&apos;s fastest growing operation during the fourth quarter, followed by Western Europe, the former Soviet Union and Eastern Europe. Overall group sales climbed to $464m during the quarter, sparked largely by a 36% increase in CPU sales. Hard drive revenues crept up 2% year-on-year while Asbis&apos; own private labels <a href='http:\/\/www.canyon-tech.com'>Canyon<\/a> and <a href='http:\/\/www.prestigio.com'>Prestigio<\/a> contributed more than US$35m in revenue.<\/p>\n<p>Although Asbis doesn&apos;t break down its profitability to a local level, it revealed that total company net profit grew 52% year-on-year to $9m, while its gross profit margin rose slightly to 5.5%.<\/p>\n<p>Meanwhile, the distributor has also filed an application to <a href='http:\/\/www.asbis.com\/news\/Investor-relations\/asbis-to-cancel-aim-listing'>cancel its listing on the London AIM<\/a> with effect from 18th March. The move is designed to consolidate all liquidity to a single exchange after Asbis recently began trading its shares on the Warsaw stock market.<\/p>\n<p><strong><em>(c) <a href='http:\/\/www.itp.net\/news\/512926'>ITP.net<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Andrew Seymour on Wednesday, 05 March 2008 ITP.net:&nbsp;Components distributor Asbis&apos; Middle East and Africa operations appear to be in good shape after registering sales of $39m during the last quarter. The haul, which covers the three months to the end of December 2007, more than doubles the $14m it made in the same period&#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":[12],"tags":[],"class_list":["post-78","post","type-post","status-publish","format-standard","hentry","category-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Middle East: Asbis on a high after spike in MEA sales - 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\/media\/asbis-on-high-after-spike-in-mea-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Middle East: Asbis on a high after spike in MEA sales - ASBIS\" \/>\n<meta property=\"og:description\" content=\"By Andrew Seymour on Wednesday, 05 March 2008 ITP.net:&nbsp;Components distributor Asbis&amp;apos; Middle East and Africa operations appear to be in good shape after registering sales of $39m during the last quarter. 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