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20 June 2007

Pentalog records highest ever quarterly growth: +76%

The latest quarterly production indicator shows a 76% growth in sales with over 140 employees at the end of May (6 months ahead of schedule). This figure is expected to move forward by the end of June.

For the first semester, the early internal growth indicator reached a record level of more than 50%! The company's activities in Romania and Moldova have increased by 115% over the quarter and 100% over the semester.

The reasons for this rapid growth mainly lie in the signing of big new offshore contracts (for this semester the smallest offshore project involves 3 persons for a period of 3 years and the biggest-one involves 15 persons). Concerning manpower, Pentalog doubled its staff in its Brasov office in August 2006 and in its Chisinau office in March 2007 within one quarter. Finally, in order to support the company's further growth, Pentalog recently announced the creation of its fourth office in Romania (in the city of Iasi). This office is expected to be opened in July. Within 10 months only, Pentalog Romania-Moldova tripled its capacities.

Since 2005, Pentalog had become a European leader in offshoring. The company's ambition is to become part of the top 20 of European nearshoring solutions.

The Bucharest office is now dedicated to the local market (80% of its activity), providing consulting services to the biggest customers located there. In 2006 the accumulation of foreign direct investment in this city generated a nearly 10% growth rate in the region. The European Structural and Cohesion Funds for the modernization of IT in the public sector will largely contribute to the emergence of a local market to the detriment of offshore/nearshore business. Yet the centralization of powers in Bucharest and the lack of significant industrial and commercial operations outside the capital are favourable factors for offshore/nearshore market expansion in the provinces.

Contact : Alexandra Mondanel
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