Barbados based Productive Business Solutions (PBS), which also operates in Jamaica experienced growth in its revenues and operating profitability in the June quarter, as the impact of COVID 19 receded.

The positive quarterly performance was also as a result of the execution of PBS’s strategy to become the leading enterprise information technology business in the Caribbean and Central America.

PBS, whose principal activities are the distribution of printing equipment, business machines, handsets and related accessories recorded revenues of US$ 7 million in the second quarter of 2021, an increase of 71.7% over the same period last year.

Print volumes have recovered sharply from their pandemic lows but remain 7% behind pre-COVID levels. The main driver of PBS’ significant revenue growth was the strong performance of its information technology business.

Huge demands for PBS services across the region

Governments, financial institutions and large corporates increasingly look to PBS to provide a diversified offering of information technology solutions.

 For example, this year PBS worked alongside governments to implement large projects in response to COVID, helped leading banks execute digital transformation and managed the regional technology needs of some of the largest businesses in the world.

PBS also invested in improving the quality of its business. These actions will maintain the revenue trajectory we experienced this quarter but will also improve gross margins and our mix of recurring revenue in future quarters.

For example, PBS recently achieved Cisco Gold Integrator Certification.

This certification covers all of its markets and recognizes our capability to develop and implement enterprise networking, data center, cyber security and collaboration projects. Combined with the software development and consulting offerings at its Hi Tech subsidiary, this certification positions PBS as one of the premier enterprise solutions integrators in our region.

In the second quarter, PBS’ gross profit was US$14.8 million or US$0.9 million greater than the same period in 2020. 

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was US$5.2 million or US$0.5 million higher than in the second quarter of 2021.

The management reports that, “as we grow the business, we remained focused on ensuring that operating costs and working capital remain at appropriate levels. PBS has momentum and a robust pipeline of opportunities. We look forward to a strong second half of 2021.”