PC House PLC (PCH) while shifting its focus on to software solutions, is also eyeing the tourism sector along with value added manufacturing firms, its Chairman/CEO, S.H.M. Rishan says. “For the next three years we’ll be focusing on shifting to more software solutions,” he told the Business Times. He said the company is also planning to buy some hotels in the coastal areas. “We’re still scouting, but nothing is finalized as yet,” he added.
Mr. Rishan also said that PCH is interested in buying value-added manufacturing companies.
“We’re also looking to buy listed firms,” he added.
He said that with the Rs. 630 million initial public offering monies that PCH raised last year, 70% has been used to retire loans. With the acquisition of Infoserve Lanka Limited with the balance funds, PC House PLC entered Business Process Outsourcing for the international market. He noted that with this, the company has reached a wide, lucrative market scope that provides immense business research segment.
"We also set up a firm called Procifinity which is a Knowledge Processing Outsourcing operation as we want to grow in this segment," he added.
His investment where he acquired 51% of Orient Garments Limited (OGL) through PCH Holdings further diversifying in the business portfolio this year, he said was a strategic one and he hopes to expand into more apparel factories from the current six that OGL has. The company recorded a turnover growth of 25% for the first half of 2011/2012 to Rs. 1.9 billion. The net profit of the PCH group has increased by 16% to Rs.105 million and shareholder’s fund as at 30th September 2011 is 1.5 billion, which is a 10% increase as per the correspondence period.
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