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XAPT revenue climbs on expanding exports

A big increase in exports helped boost Hungarian IT company XAPT's revenue to HUF 3 billion in 2008, up 34% from 2007, managing director Zoltán Schvarz said at a press conference in Budapest on Friday.

XAPT's operating profit rose 25%.

XAPT develops software, sells and services computers, and delivers enterprise resource management software based on Microsoft Dynamics.

Revenue of XAPT's Microsoft Dynamics AX division rose 18pc, mainly because of projects in the US and Canada, and revenue of its Microsoft Dynamics NAV division climbed 45%, because of the acquisition of a similar business owned by Navconsult. Revenue of the infrastructure division jumped 168% as XAPT started operating it only from the middle of 2007.

XAPT has doubled its staff to almost 100 over the past year as its foreign projects expanded: the company has orders in North and South America, as well as in the Middle East and Africa, Mr Schvarcz said.

Austrian investment group New Frontier International Holding acquired a majority stake in XAPT in November 2008. With its new owner's help and professional cooperation, XAPT could increase its presence even further on export markets, he said.

XAPT targets consolidated revenue of HUF 3.5 billion in 2009.

The company is looking for potential acquisitions, Schvarcz said.(MTI-ECONEWS)