Al Faris celebrates 15 years with profits forecast

The CEO of business solutions provider, Kuwait-based Al Faris Information Technologies, made a confident birthday forecast that his company will go into overall profits next year and peak its GCC business in 2004.

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By  David Cass Published  October 13, 2002

The CEO of business solutions provider, Kuwait-based Al Faris Information Technologies, made a confident birthday forecast that his company will go into overall profits next year and peak its GCC business in 2004. Haitham Al Faris predicts that the rest of the Arabian market will follow with a peak in 2006.

Mr Al Faris was speaking at an impromptu news conference after cutting the huge 15th birthday cake, which dominated the Al Faris stand on Gitex opening day. Although the US $6m company has been trading 15 years, it only implemented an e-business strategy in early 1999. Mr Al Faris said its success is based on “placing a high emphasis on working in partnership with customers and strategic solutions partners to deliver innovation to businesses.”

The corporate focus changed from the original B2C strategy towards B2B after attending ITP’s e-government seminar in Riyadh, Saudi Arabia. “That was where I saw the importance of a B2B emphasis, whether working with governments or businesses.”

The client list includes financial services, government sector, Oil and gas, and corporate solutions. The CEO claims to lead the field because of its early entry. “Anyone developing a similar business model will have to go through the same cycle as us and by then we will be even further ahead,” he said.

Of the past year he said, “It has been a great year. We spent most of 2001 doing development of the market and education of clients. Now we are seeing them adopting our solutions.”

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