GUANGZHOU, China — GRG Banking Equipment Ltd. says it achieved significant growth during the first quarter of 2009, with operating revenue of U.S. $45.6 million, an increase of 21.2 percent from the same period last year. Profit for the quarter hit U.S. $13.8 million, 5 cents per share, up 14 percent from last year.
GRG also reported year-end results for 2008, which showed a 54-percent increase in annual operating revenue and a 51-percent increase in operating profit. Operating revenue for 2008 totaled U.S. $176 million, while operating profit totaled U.S. $43.4 million. According to the "China ATM Market Report 2008," published by Financial News, GRG is the No. 1 ATM provider in China, with sales in 2008 exceeding all other manufacturers. On a global basis, GRG now ranks among the top five ATM providers.
