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Entersoft Financial Results 2008: 26% growth in revenues, 42% in net profits

The 2008 fiscal year ended with 26% growth in revenue and 42% in earnings after taxes, for fifth consecutive year.

The company’s turnover amounted to 7,114 million in 2008 versus 5,624 million in 2007, while profits before taxes amounted to 1,557 million in 2008 versus 1,108 million in the previous year; increased by 41%. Profits after tax amounted to 1.127 million Euros compared to 2007’s 0,795 million, up by 42%.

Entersoft had no loans at the end of 2008, while the immediate liquidity ratio stood at an impressive 5.16 versus 2.4 last year, a level much higher than the average index for the local IT industry.

2008 proved to be a remarkable year for the company, achieving anexceptional economic performance. Entersoft entered the Alternative Market of ATHEX; realizing its two-year investment program of 3.5 million in new product development, launched its commercial activity in Bulgaria and Romania through the establishment of subsidiaries as well as in Cyprus with sales representatives.

Despite these significant investments, which are expected to deliver the next few years and despite the international economic climate, the company achieved high growth rates for the fifth consecutive year with no loans and excellent liquidity.

In 2008 Entersoft expanded its client base with many large and medium-sized private sector enterprises who installed innovative systems software (ERP-CRM-E-Commerce).

Some of the companies include: Dixons Kotsovolos, Athens Stock Exchange listed KLEMMANN, OPTRONICS, printing industry HAIDEMENOS and the food manufacturing group HAITOGLOU SA, one of the largest retail BookstoresIANOS, Printing company Express Publishing, Foo delivery Domino’s Pizza, Event Organizer AC & C International SA, PAPASOTIRIOU Publishing, Fruit Distributor KATSIAMAKAS, Chemical Industry KAPACHIM SA, Translation company Intertranslations, Electronics Distributor Teleimpex, Food Retailer Simply Burgers, Electrical equipment distributor Dimoula Cables, Events nd Conferences Organizer BOUSSIAS COMMUNICATIONS, IT distributor PAPASAVVAS SA etc.