STME achieves record growth in 2000

STME has achieved record revenue growth of 70% last year, amounting to earnings of US$ 400,000 per employee in 2000. STME also announced that it has recorded revenue growth of 525% since 1996.

  • E-Mail
By  Zoe Moleshead Published  February 21, 2001

STME has achieved record revenue growth of 70% last year, amounting to earnings of US$ 400,000 per employee in 2000. STME also announced that it has recorded revenue growth of 525% since 1996, illustrating the increasing demand within the Middle East storage solutions market.

“The enterprise storage market experienced exponential growth in 2000, as organisations throughout the Middle East invested in technology to protect and manage their mission critical customer and financial data,” stated Trevor Hutson, general manager of STME. “STME’s earnings will enable us to invest more significantly in the Middle East while devising new ways to deliver proven, interoperable, storage technologies to both the private sector and governments throughout the region in 2001.”

STME’s growth last year is in part attributed to the substantial new business wins in the telecommunications, banking, oil and gas, and transportation industries.

Hutson anticipates further growth in the storage market in the Middle East with companies in the region possibly tripling their storage investment in 2001. Consequently STME is predicting revenues will increase by 50% in year 2001, hitting a five year growth of 850%.

STME announced its results at its annual meeting, which includes representatives from EMC, Veritas, StorageTek, and Computer Networking Technology. The four day meeting will also include workshops and strategy meetings.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code