KARACHI, Oct 21 (Focus Pakistan) — Systems Limited wants a bigger share of the world’s largest corporate technology budgets. With up to 15 Fortune 500 customers already on its books, Pakistan’s IT services heavyweight plans to deepen its presence in North America and Europe while chasing growing demand for artificial intelligence across the Middle East.
Chief Executive Asif Peer and finance chief Roohi Khan laid out the plan for foreign fund managers at a virtual session of the annual Emerging and Frontier Markets Conference. Auerbach Grayson and Topline Securities ran the event, and Topline summarised the discussion in a client note.
RETAIL AND CPG AT THE CORE
Retail and consumer packaged goods will lead the drive into North America and Europe, management said. Systems Limited intends to grow there both by winning business on its own and by buying companies. Those two segments bring in about 20% to 30% of revenue today. Executives expect that share to climb, citing larger scale and a strong outsourcing culture among Western clients.
Confiz gives Systems a head start. Founded in 2005, the firm built its business around retail and CPG clients in North America and Europe. Systems took it over through a share swap, and the Lahore High Court approved the merger in May, backdating it to Jan. 1, 2026.
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Management said it has retrained staff in duplicate and shared-service roles after the merger and moved them into new positions, while retaining key talent.
INSIDE THE CLIENT BOOK
Most of its 12 to 15 Fortune 500 clients sit in the United States and Europe. Executives said they see considerable room to sell those accounts more services.
The client list kept growing in 2026. About 20 new customers joined in the $1 million to $5 million annual revenue band. Two existing customers moved into the $5 million to $10 million band.
Management estimated that 85% to 95% of its revenue backlog is recurring. The sales team makes up less than 1% of the workforce, though sales and marketing spending equals about 5% to 8% of revenue.
AI DEMAND IN THE MIDDLE EAST
Conflict in the Middle East has not slowed growth in that business, management said. Rising public-sector investment in agentic AI, technology that can carry out tasks with limited human input, remains a key driver in the region.
Business Recorder’s research desk has noted that the Middle East’s weight in Systems’ revenue also exposes the company to any downturn in regional demand or geopolitics.
CURRENCY SQUEEZES MARGINS
The expansion comes as a stronger rupee weighs on profitability. Management attributed recent pressure on EBITDA margins to currency appreciation, which reduces the rupee value of foreign revenue, while inflation continues to push up local costs.
Standalone figures on the Pakistan Stock Exchange show the effect. Sales rose to Rs13.31 billion in April-June from Rs10.82 billion a year earlier, but profit after tax fell to Rs1.43 billion from Rs2 billion.
Consolidated results for January-March were stronger. Revenue rose 33% to Rs23.98 billion and profit after tax increased 21% to Rs3.03 billion, led by a 70% jump in retail revenue.
