Karachi: Symmetry Group Limited (SYM) conducted its FY24 financial analyst briefing today, discussing the past year’s financial results and strategic plans for expansion and product development. The company reported earnings of PkR139 million with an earnings per share (EPS) of PkR0.52, compared to last year’s PkR158 million and EPS of PkR0.81.

According to AKD Securities Limited, the briefing highlighted Symmetry Group’s use of initial public offering (IPO) proceeds for the development of five intellectual properties (IPs), with two products already launched and three more expected to be completed by mid-2025. The company also noted that half of its revenue was generated domestically, with the other half coming from exports, particularly strong in the MENA region and North America.

Symmetry Group’s revenue by vertical showed the technology sector leading at 31%, followed by telecommunications at 25%, and banking and financial services at 18%. Significantly, the top 10 clients accounted for 80% of total revenues. On the cost side, human resources constituted 54% of expenses, with marketing costs at a mere 2%, although a future increase to 11-15% was projected to enhance scalability.

Further expansion includes the imminent launch of a subsidiary in the UAE to tap into the GCC market, complemented by growth in North America and other regions through strategic partnerships. The company is also introducing a new product, ‘Vidfy AI’, which enables the creation of AI-generated videos, set for launch next week.

Symmetry Group is also adjusting its financial strategy in anticipation of monetary easing, considering increased leverage to support further growth. The briefing also reassured stakeholders that a recent internet outage had minimal impact on the company’s operations, which rely predominantly on a local workforce of 179 employees.