Plover Bay Selected Among Asia's 200 Best Under A Billion by Forbes
(IMMEDIATE RELEASE: October 16, 2018 – Plover Bay Technologies Limited (“Plover Bay Technologies” or the “Company”, SEHK stock code: 1523) has received a distinguished recognition, as the company has gained its first entry onto Forbes Asia’s 200 Best Under A Billion 2018 list.
The 200 Best Under A Billion 2018 list is featured in the August 2018 issue of Forbes Asia. The list “highlights 200 Asia-Pacific public companies with less than $1 billion in revenue and consistent top- and bottom-line growth.” Plover Bay Technologies was one of those 200 companies among the 24,000 companies considered for this feature, based on sales and earnings growth in the past 12 months and over three years, and for the strongest five-year return on equity.
Plover Bay performed well across all three categories, with sales and net profit compounded annual growth rates of 27.4% and 32.7%, respectively, from 2014 to 2017. Return on equity averaged 42.2% in the past five years.
Plover Bay CEO and General Manager Keith Chau said, “We are thrilled to be recognized by Forbes as one of the best 200 under a billion public companies in terms of growth and return on equity in Asia-Pacific. Throughout the years, we placed a great focus to build a business with high operating efficiency and long-term sustainability. While this is reflected in our asset-light balance sheets, consistently improving operating margins and rising net profits, the recognition from the world’s leading financial media will no doubt help increase our visibility among potential investors around the world and bolster confidence among our shareholders, customers and suppliers.”
Regarding Plover Bay’s high reliance on the U.S. market and recent uncertainties arising from trade tensions, Keith said “Thanks to our strong execution, we have successfully shifted the majority of production for U.S. customers to contract manufacturers in Taiwan. We therefore foresee minimal impact from recent trade tensions around the world. The trade war does not change the fundamentals of Plover Bay Technologies, which is to provide a diverse range of SD-WAN solutions that help increase productivity, reduce connectivity costs and enable mobile computing or Internet of Things opportunities for both enterprises and government agencies. Our small size compared to other networking players is an added advantage as it allows us to rapidly adapt to changes arising from periods of uncertainties such as the current trade war.”
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About Plover Bay Technologies Limited
Plover Bay Technologies (SEHK: 1523) is a world-leading Internet connectivity technology company. The Company is primarily engaged in developing and commercialising SD-WAN solutions under its own brands – ‘Peplink’ and ‘Pepwave.’ The Company also grants software licences and provides support services in connection with its SD-WAN solutions. The Company sells its own branded products to an extensive global network of more than 500 resellers in approximately 70 countries.
To learn more about Plover Bay Technologies, visit www.ploverbay.com
Phone: +852 2990 7667
Email: [email protected]