July 31, 2020

The first half of 2020 ended with 35% revenue growth

The first half of 2020 ended for Information Services JSC with revenues of BGN 20 million. This represents an increase of 5% compared to the Business Plan of the company and 35% compared to the same period of the last year. The profit before taxes is BGN 1 million, the result shows an increase of 28% compared to the planned one.

Profitability based on the profit before taxes is 5.2%.

During the first half of 2020 activities under the existing and newly concluded contracts with clients were performed, as well as activities which are a result of assigning to Information Services JSC the functions of the National System Integrator.

The state of emergency introduced since March 13th 2020 due to the Covid-19 pandemic necessitated the terms extension of the performed contracts, especially those which require on-site performance at the contracting authorities, with the participation of a large number of employees gathered in one place (such as implementation, trainings etc.) As a result, the deadlines for concluding some contracts have shifted to the second half of 2020.

As far as the comparable projects are concerned, the revenues from services for the development and maintenance of applications and infrastructure and from consulting services, in the first half of 2020 increased by 28%.