The revenue rose 44% year on year, the ARMADA Group was hereby announce its preliminary financial results for the January 1 to June 30, 2011. The company was achieve the strong results on all of the strategic areas of the business in the first half of the year 2011. The ARMADA was experiencing a strong growth. The strategic areas is including the software development and implementation, the Information Technologies services and the acquisitions.
The ARMADA was managing to take over the leader in the software development for the health care industry in the Russia by raising the additional equity capital. It has been sufficient funds to finance several other M&A deals, there were planning this year. This is according to the chairman of the board of directors Alexey Kuzovkin. During the first half of the year, the ARMADA’S revenue that increased about 44% Yoy to RUB 1,404m. The revenue rose in the group’s of the two core business segments. This is all about the revenues of the ARMADA. the revenue in the Information Technology services segment including the Information Technology outsourcing, the training and project management, the system integration was rose in 18% from the RUB 799m to RUB 939m.
The average expansion of the Russian Information Technology market, the growth rate was in the line. This is according to the IDC analysis, outlays on the Information Technology in the Russia. It is expected that the grow in the annual average rate of the 16.8% in 2010 to 2014. In 2011, the communication MInistry projected the Russia’s Information Technology market that rise 15%, while the PMR was the market research agency in the Eastern Europe that forecasted about 22% growth.
About the shares of the ARMADA, the AMADA was place around 2.4m in the ordinary shares or 16.7% of the upsized share of the capital in the secondfary public offering at the USD 13 per share in the month of April 2011. As of July 1, 2011, it was about 57% that the ARMADA’s free float stood. In the SPO, the company was raised the USD 23.5m and it was acquired 589, 848 of the own shares that which was now listed on the balance sheet of the 100% subsidiary and it was used in financing future acquisition.
In the M&a, the ARMADA was purchased the controlling stake in the Post Modern Technology, the software developer which operates in the health care sector. The medical information system, that develops by the company, the leader in the Russian market and it has been introduced by more than 30 partners in the different Russian regions and in the Europe. This is base in the Health and the Social Development Ministry, that was only 20% of the medical institution in the country, that was currently use the information technologies in their work.
The leverage of the ARMADA is that the group companies was participating the infrastructure projects to the finance transactions and to repay the loans at the end of the year. There was no longer liabilities in the ARMADA. The ARMADA’S outlook for the 2011, the management team was tending to focus on achieving the 25-30% revenue of the organic growth in the 2011. The outsourcing makes the world powerful and the people will earn lots of money.
Reference:
http://itonews.eu/armada-ramps-up-revenue-44-in-h1-2011/
