Systor AG, the Swiss IT services company controlled 60% by the UBS banking group and 40% by Perot Systems of the US, reports that, while its financial parent continued to represent the bulk of its revenue in 1998, sales in the rest of the market were up 64.9%.
Revenue overall was down 6.4%, to CHF285.6m ($192m), though the company said this was expected, as its sideline in hardware retailing is on the wane. Revenue from the core business, however, grew 11.4%, to CHF224.7m ($151.6m), of which 82% was from UBS.
The non-UBS business grew more rapidly, however, with revenue in that segment totaling CHF40.9m ($27.5m) in 1998, an increase of 64.9% on the previous year. Systor is a privately held company, and thus does not disclose net income.
