ITS posts $150 million revenue for Q108
Solution provider International Turnkey Systems building on success in Islamic finance solutions
Solutions provider International Turnkey Systems (ITS) posted revenues of AED 551 million ($150 million) for financial Q1 08. The results mark an increase of 16 percent compared to the same quarter last year.
The company has grown its headcount by 53%, to more than 1,700 employees, over the past year.
Khalid Faraj Al-Said, managing director and general manager of ITS commented: "We have set new objectives for our business in 2008 based on our profitable growth last year and the developing market trends in the region. Our strategy for 2008 aims to achieve a 25% growth rate over the next full business cycle."
ITS growth has in part been down to its work with the finance industry, inparticular with Islamic finance solutions. The company was recognized as the ‘Best International Provider of Islamic Technologies and Solutions in 2007' by the World Finance International Magazine; won ‘Most Outstanding IT Company' at the fourth Kuala Lumpur Islamic Finance Forum (KLIFF) and was awarded the Best Islamic Technology provider' by the online Islamic Finance News.