Digital GlobalSoft Ltd has issued the following business outlook for FY2003:
- All -round progress at the operating level and having a wide range of service offerings is in line with the Company's growth plan Digital remains confident of its long-term business outlook.
- Even as the duration of the sales cycle has extended due to increased customer due diligence the average size of individual orders have increased adding to business sustainability from a long term perspective
- Given the fast changing operating realities the management continues to maintain a conservative performance view. In line with the earlier stated outlook the performance for the rest of FY2003 will continue to be positive.
Progress on future direction
The India officering process is of strategic importance to HP internationally particularly keeping in view HP's global focus on software services Digital is positioned as an important asset that provides significant value proposition to this strategy.
The future business and operating structure of Digital GlobalSoft is currently under consideration Digital has constituted a Committee comprising Independent Directors of its Board to identify and consider various options This committee is specifically charged with looking after minority shareholder interests.
The focus remains on arriving at a structure and making a recommendation that is best aligned to the corporate and business objectives of the Company No final decision has been taken on the proposed model and the timing of its implementation.
Until such time that a conclusive decision is arrived at the Digital GlobalSoft Board has indicated that the Company 's business has continued as usual with sustained growth in its software services business.
BSE Code: 500121
