Latin American business boosts STS Group's growth in 1H11

- Wednesday, September 28, 2011

Latin American business boosts STS Group's growth in 1H11

French document management company STS Group has doubled its business during the first half of 2011 to 10.9mn euros (US$14.8mn) from 5.4mn euros, mainly attributed to new offers in Europe and Latin America, the company said in a statement.

Within STS Group's business, Latin America has represented major investment, evolution and development focus, enabling the company to maintain growth rates in excess of 40% year-over-year.

"Growth in the first half of the year has been in line with the expectations," said Rodolfo Lomascolo, STS Group vice president of business development. "Among other factors, both STS Group and RISC, another of the group's companies, have signed important agreements in the first half. The results will start to be reflected in the company's figures in the second half of the year."

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In Chile, the company works with channels like Sysasap and Secure Data to promote its electronic storage technology, with a business plan for the next three years. The outlook is to bill US$5mn by the end of that period.

Operations in Chile have also followed growth expectations. "The company's evolution in this period has been positive, in line with the business plan for the country," said Gastón Pogoda, Secure Data Chile's general manager.

STS has 30 partnerships worldwide, which in Latin America includes Chile, Argentina, Ecuador, Costa Rica and Peru.