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Revenue of Adastra Corporation has reached CZK 1.006 bil. in the fiscal year 2007 increasing by 49% over the previous year
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98 % of the total revenue was generated by high value-added services
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Adastra has strengthened its operations in foreign markets and has further expanded its interests in North America, Europe and Asia
Prague, November 29, 2007 – Adastra Corporation, an international consulting and software company, has announced its financial results for the fiscal year 2007 (ending September 30th, 2007). The company, with a total revenue of CZK 1.006 billion (CAD 52.9 million, EUR 35.8 million), has broken the one billion crown milestone this year. It represents an increase of 49 % compared to the fiscal year 2006. Value added services have generated 98 % of the company’s total revenue with foreign operations making up 51 % of the revenue.
“We have achieved our aims and broke through the target of 1 billion crowns that we set out to do two years ago,” says Jan Èervinka, CEO of Adastra Corporation. “I see this breakthrough as a huge sign of success which we could not have achieved without the excellent team of IT specialists working at Adastra and our satisfied customers who are willing to carry out new projects with us.”
In the last financial year Adastra focused on advanced data integration as well as Adastra’s traditional industries such as Data Warehousing and Business Intelligence. Adastra is strongly positioned among the leading companies in Master Data Management (MDM) not only in the Czech and Slovak Republics but also in other markets. Adastra has managed to implement MDM projects with both current and potential customers including Raifeissenbank/eBanka, GE Money Bank, ÈSOB, ÈSOB Insurance, Cancer Care Ontario amongst others. On top of this, Adastra provides a full range of services in the areas of business consulting and application development.
In order to diversify into complement areas, Adastra acquired Reporters, a leader in Corporate Performance Management in the Czech Republic, in the past fiscal year. Reporters’ revenue is consolidated into the total revenue of Adastra Corporation and Reporters continues to perform as an independent body.
In the fiscal year 2007, Adastra’s foreign operations increased and amounted to 51 % of the total revenue. In addition to the countries in which Adastra has offices (Czech and Slovak Republics, Germany and Canada), the company continues its regional expansion delivering projects elsewhere in North America and Europe in the United States, the United Kingdom, Austria, Switzerland, Ukraine, Russia, Bulgaria as well as in Asia (Kazakhstan, Vietnam). Leading Czech and global companies such as Aviva, Cetelem, GE Money Bank, and Home Credit all rank among Adastra’s outstanding customers in the fiscal year 2007. Moreover, the company broadened its customer portfolio with new clients such as the Mobile Entertainment Company, the Russian KMB-Bank, the Canadian Ministry of Health, the Ontario Energy Board, Centennial College and Deutsche Bank New York amongst others.