2006 – the most successful fiscal year for Penki Kontinentai Group
For Penki Kontinentai, one of Lithuania ‘s leading IT groups, the fifteenth year of its operation also turned out to be the most successful fiscal year ever.
In 2006, sales soared 35 pct to LTL 305 mln, of which direct sales made up LTL 144 mln (EUR 42 mln). In 2005, the group posted consolidated sales of LTL 220 mln, with direct sales amounting to LTL 93 mln (EUR 27 mln).
”The main driver of rapid growth was international recognition of our company that operates along different lines in 56 world countries, and our active participation in the largest specialised conferences, workshops, forums and trade fairs,” says Mr. Idrakas Dadasovas, board chair of the group. “We achieved the most dramatic growth in banking products and technologies, special technological solutions for payments by card, customised projects, telecommunications and fibre-optic technologies. In addition, we developed quality and reliable services, i.e. high-speed data, voice and digital interactive television video transmission, protection and security, 3P (Data-Voice-Video) + 1 (Smart House). For customers’ convenience, all this comes from one vendor! Last year, we invested LTL 25 mln in business and infrastructure development in various countries where our company carries out its operations. A major share of these investments went to areas that demand scientific knowledge and are related to customised projects in different markets, and to implementing an expensive fibre-optic network and related services.”
In 2006, the Penki Kontinentai Group paid LTL 15.2 mln worth of taxes to the state budget. Over the past four years, the total amount of tax contributions from the company exceeded LTL 30 mln.
"2007 will be a year of direct sales growth. We provide funding to different projects in cooperation with Lithuanian and foreign banks and participate in each phase, ranging from audits, provision of financial guarantees, logistics and servicing to applications and monitoring,” says Mr. Dadasovas.
"Just as last year, in 2007 we will allocate significant funds and resources for copyright and intellectual property protection and for detecting crime on the global high-tech market. We will also organise special courses on IT issues for law professionals, including legal counsels, attorneys and employees of investigating services, as we see a notable shortage of knowledge in this area. For this purpose, we will also use our “Five TV” project that will enable us to implement remote training programmes and to watch films in the VoD mode. Along with a well-known scriptwriter, I have begun working on a script for a feature film. Its main story will be failure of a famous law firm to understand the after-effects of intellectual property, software theft and fraud in the high-tech area. The result of this failure is sad: some of the attorneys break the law themselves and end up in the dock together with the real criminals,” narrates Mr. Dadasovas. “I am confident that the record result of 2006, our achievements on international markets and investment in Lithuania will provide a strong basis for the company’s growth in 2007.”