Some IT companies double profits despite crisis

Americans at HP and IBM managed to boost their net profits in Romania by significant rates. Asesoft Distribution posted the highest net profit among IT companies controlled by Romanians.
American giant International Business Machines (IBM) last year recorded the biggest euro-denominated net profit growth rate on the Romanian IT market, show financial data submitted by companies to the Trade Registry.
IBM Romania last year posted an 8.8 million-euro net profit, up by around 120% against 2008, amid a steady euro-denominated turnover, of around 51 million euros, despite a declining market.
Another American company, Hewlett-Packard (HP), posted the biggest net profit among Romanian-based IT companies, 9.3 million euros, up 71% against 2008, according to Trade Registry data. The company’s revenues, however, fell by 22%, to 47.6 million euros.
Among American IT giants present on the Romanian market, Oracle is the strongest player in terms of business size, after last year the company’s business amounted to 71 million euros, more than the business of the largest IT&C retailer (eMag). The company’s profit stood at 1 million euros.
Asesoft Distribution, a company held by businessmen Sebastian Ghita and Iulian Stanciu, posted a 96.7 million-euro turnover last year, up 10%, and a 3.5 million-euro net profit, up 85% on the preceding year, according to Trade Registry data.