Datacraft Asia reports strong growth of 40% profit

NEW DELHI, September 8: The Datacraft Asia Group, for the year ended

June 30, 1999, increased its profit tax and minorities to US$21.4 million,

representing a surge of 40 per cent over last financial year. The Group's

revenue rose by 25 per cent over last financial year to US$255.4 million,

whilst profit before tax jumped by 34 per cent to US$27.1 million.

Datacraft (Asia) Chairman Des Althorp said, "Singapore and India

contributed the highest growth for us, due to continued spending by

multinational corporations on their networks as well as the explosive

growth of the Internet infrastructure which Datacraft designs and

installs. Our service division was the fastest growing business sector,

contributing the highest margins."

He is confident of double revenues and profits over the next two years

due to continued high growth in the segments the company addresses. The

economic recovery throughout the region and its recent entry into Japan

and Korea and future acquisitions are also expected to contribute to the

growth. "There are lots of opportunities available for us with the

migration to data-centric networks, the expected surge of electronic

commerce business in Asia Pacific and the ongoing explosive growth of the

Internet which we can readily capitalize on with our competitive

strategies and proven expertise," he added.

During the year, Datacraft Asia aggressively stepped up its regional

expansion by acquiring five companies and opening two new offices. With

these additions, Datacraft Asia now has a total of 53 offices in the Asia

Pacific and almost 1,000 staff worldwide.

Datacraft RPG has extended its coverage in India with the opening of

offices in the fast-developing technological and industrial cities of

Hyderabad and Pune. With these additions, Datacraft boasts a total of

seven offices in India.