Systems Ltd declares 60% bonus, 20% cash dividend
Posted on May 13, 2008 08:07 AM -0400
Systems Limited declares 60% bonus, 20% cash dividend
Islamabad—Systems Limited, Pakistan’s premier IT & IT enabled Services Company, held its 31st Annual General Meeting at its registered office in Lahore. Mr. Shahid Hafeez Kardar, an eminent economist and a member of the Board of Directors of Systems Limited, chaired the meeting. One of the items on the agenda was the approval of the annual accounts of the Company for the year ended December 31, 2007 were approved. The shareholders also approved the payment of 20% cash dividend i.e. Rs. 2 per share as compared to 15% cash dividend paid last year and the issue of 60% bonus shares as compared to 50% bonus shares last year. In 2007, Systems Limited’s group revenues grew by 24% year-on-year and the total employees of the group stood at over 900 as of December 2007 as compared to only 300 in 2005.
Speaking on the occasion Mr. Ashraf Kapadia, Managing Director of the Company, said “Systems Limited continues to grow at a robust pace based on the strategy defined by the company management a few years ago. With a significant number of already signed contracts and a healthy pipeline of orders, Systems Limited is expecting to grow its revenues by 30% during 2008”.
The products and software services of Systems Limited for selected industries in USA continue to get better recognition and acceptance by clients in the US, and by establishing large Business Process Outsourcing (BPO) facilities, Systems Limited has been successful in winning increased BPO services from the US market, which is a major segment for its growth and margins.
Systems Limited excels in building and delivering world class information systems. The company understands that many industries in Pakistan do not want to utilize scarce resources on branded and expensive solutions designed for different environments, and, therefore, is committed to bring its worldwide knowledge to help design industry specific IT Management Systems. Systems Limited continues to enhance its quality and delivery processes and is planning to achieve CMMI Level 5 appraisal in July 2008. It also plans to receive certification for it BPO services under ISO 27001 standard for data security and business continuity in April 2008 - from The Observer
