GRGbanking net profit grew 22.48% in 2010

Net income rose 24.25 per cent to US$80.14 million, according to GRG Banking Equipment.

The company's 2010 revenue was US$262.9 million, up 15.82% year-on-year.

Net profit attributable to shareholders grew 22.48% to US$72.46 million and EPS was US$0.21, a surplus of 23.01% compared with the same period of 2009.

The revenue of the company in 2010 was mainly generated from sales of ATM products and related service. Operating revenue of ATM products increases by 11.85% with a total amount of US$ 224.75 million.

In the domestic ATM market, the company’s market share continued to grow. In 2010 the company successfully inked two big contacts with Bank of China valued totally at US$93.17 million (CNY 630 million).

In the international ATM market, GRGbanking signed agreements with 51 customers in over 45 countries last year, achieving a significant growth of total contract value. Moreover, the company made a significant breakthrough in European last year, wining a bid for1,250 H68N cash-recycling ATMs, from Ziraat Bankasi-Turkey’s biggest bank and one of the world’s largest bank based on assets.