STME reports 60 per cent growth in second quarter

This also represents a 140 per cent increase in sales for the half year. STME's consistent revenue growth was achieved while maintaining a healthy distribution of revenue across different markets and industry sectors, which is a sign of the company's sound performance and balanced growth. The UAE, Saudi Arabia and Egypt markets, in particular, performed exceedingly well, contributing to another record quarter for STME.

Jocelyn Al Adwani, Deputy CEO, STME, said,

"Our strategy of investing in skills and focusing on our customers continues to yield results and we are very pleased that the growth is coming from both existing and new customers throughout the region. After our highly successful first quarter, we are delighted that the momentum is continuing and we are encouraged by the favourable distribution of revenue, which is indicative of our all round growth and consistency. Strengthening of strategic alliances and major customer wins have fueled the commendable performance of STME in this quarter."

In the second quarter of 2006, STME signed important deals with leading organizations from across the business spectrum in Finance, Manufacturing, Media, Investment, Oil & Gas, Telecommunications, Logistics and Islamic Banking. The company also had a significant increase in service revenues in this quarter and signed agreements with global players to provide services across the region on their behalf.

The year 2006 saw STME's active participation in several industry events in Dubai and around the region such as Storage World 2006, the region's definitive conference and exhibition dedicated to data storage technology and solutions, and the Financial Technology Summit and Exhibition. STME also became the first company to have gained the ATP for Network Hosted Storage Status and were honored with the Cisco Storage Partner of the Year award at the Cisco Partner Summit in Dubai.

"We are confident of maintaining and even surpassing this growth rate in the second half of this year, through our continued focus on delivering best-of-breed solutions to our customers," concluded Al Adwani.

STME is a leading integrator of information storage solutions and services, working with best-of-breed technologies to provide customers with business-focused solutions to manage, store and protect their information. Founded in 1982, STME has grown to have 14 offices in 11 countries across the Middle East.