News

ATM manufacturer GRG reports higher net income

September 7, 2010

GRG Banking Co. Ltd., China’s largest ATM manufacturer based on annual shipments, has reported higher net income on stronger operating revenue for the first half of 2010.

The manufacturer recorded a net income of $37.6 million, up 19.39 percent compared with the same six-month period last year. The business also reported operating revenue of $118.5 million, up 15.41 percent compared with 2009’s first six months.

Operating revenue for ATM products was $108.8 million, up 12.17 percent compared with last year despite slower sales throughout China during the first half of 2010, company officials said. ATM sales accounted for 91.7 percent of the firm's total revenue.

GRG Banking Co. is targeting banks located in rural areas and small cities throughout China to increase ATM sales.

“The company is very confident of the market prospect of domestic ATMs especially in small city and rural areas, where ATM deployments are still unsaturated,” the company officials said.

GRG Banking Co. is based in Guangzhou, China.