STME reports prosperous 2001
Storage provider STME bucked the IT slowdown of last year to record a year-on-year revenue increase of 88%. The company's sales force also achieved 106% of their target forecast.
Storage provider STME bucked the IT slowdown of last year to record a year-on-year revenue increase of 88%. The company also reported that its sales force achieved 106% of their target forecast.
STME has capitalised on the increasing demand in the Middle East for storage solutions and services over the last few years. It is latest figures suggest that it has achieved 158% revenue growth over the last two years, and 724% growth over the last five years.
STME also secured two substantial deals with Saudi Aramco and Saudi Telecom last year.
“2001 has been a record-breaking year for STME in terms of acquiring new business, upgrading the storage infrastructures of existing enterprise clients, and developing new partnerships with technology providers. While many market segments have experienced a slowdown, the growth of information in the Middle East and the need for companies to protect and manage that vital business information has translated into significant revenue for STME,” said Trevor Hutson, STME’s general manager.
STME also clinched contracts with ADGAS, Ford Foundation, Caltex, German Oil & Gas Egypt, Dubai Courts, Hollandi Bank, KACST, MCV, National Bank of Abu Dhabi, Saudi American Bank, and Telecom Egypt during 2001.
To cope with the increasing demand STME increased its headcount in the region, taking on 31 additional employees in 2001.
“STME has a number of key goals for 2002, which include a potential 20% revenue growth, an increased focus on our support infrastructure to deliver improved, on-the-ground service to our customers, and demonstrating continual improvement across the organisation using our Quality Management System, which is certified to ISO 9001:2000,” said Andrew Calthorpe, STME’s sales director.
“2002 will also see STME delivering innovative storage solutions and services to smaller and medium-sized businesses as well as the enterprise market,” added Calthorpe.