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ICT Group to add 500 more seats to Philippine operations

itmatters.com.ph - May03, 2006


Nasdaq-listed ICT Group, Inc. is set to add 500 more seats in its Philippine operation before the year ends on continuing business opportunities.


"In the Philippines, we added 300 workstations in the first quarter for a total of 1,910 workstations and expect to add at least 500 more this year," ICT Group chairman and chief executive John J. Brennan said in its first quarter report.  The 300 seats mentioned by Mr. Brennan are housed in the com-pany’s newly-opened 5,000-square meter office building inside the Riverbanks Center in Marikina City. This is expected to have up to 800 seats in operation within the second half.
 

The facility used to be a factory of Universal Textile Mills, Inc., part of the 14-hectare property that the developer, Riverbanks Develop-ment Corp., bought from the textile company.  "Since we last reported, we have captured services business from new clients in the healthcare, energy, business services and telecommunications sectors, which we expect to start in the second and third quarters of the year," Mr. Brennan said.  Aside from its facility in Marikina, ICT also operates two sites, one in Makati City and another in Ortigas Center, which began opera-tion in April 2003 and in July 2004, respectively.
 

All the three sites support clients based in the US, United Kingdom, Canada and Australia. The company targets its Philippine operation to account for over 25% of its global production by the fourth quarter, an increase from 17% in the same period last year.
 

Abroad, Mr. Brennan said the company is also planning to open its first facility in India this May for its US clients and open another facility in Costa Rica in July to service customers from North America and Europe.
For the first quarter, ICT Group reported $113.1 million in revenues, 20% higher than the $94.0 million posted in the same period last year.
First quarter net income was $2.8 million, or $0.21 per diluted share, compared to $1.1 million, or $0.08 per diluted share during the same period last year.

 

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GUZMAN TAÑEDO & ACAIN

Mile Long Building 316

Legaspi Village

Amorsolo Street

Makati City

Telephone: 8941441

TeleFax: 8124296

e-mail: gtalaw@gtalawphil.com 

 

 

   

 

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