Stuba celebrates first successful year
Stuba is celebrating their first birthday by announcing the merger has proved extremely successful.
CEO, Ruchir Bang said, “We have absolutely smashed our targets and milestones of year 1. Our objectives were to launch Stuba as a recognised brand in the trade wholesaler space, but more importantly to ensure a unified team and migrate all clients over to a common platform.” Stuba has reported that in the last twelve months they have increased business with existing clients as well as seen a 45% increase in the number of new client bookings. The migration of the majority of clients has been completed, with the remaining to go live in the next two weeks.
Stuba sales have increased in all markets; Australia and New Zealand has seen 58% growth year on year in Q1. The UK & Ireland has seen 52% growth year on year and 29% in the Middle East, all of which like Australia have been established markets for Stuba.
Mark Luckey, Stuba Pacific MD and global CIO says “The growth is a reflection of living up to our promise of driving volume, lowering prices and optimising operations.”
In Australia and New Zealand, longhaul bookings have seen the biggest increases in sales year on year. Cyprus is +429% compared with Q1 of 2018, Chile is +338% and Turkey is +330% up. Europe sales are also faring well with Sweden +184%, Malta +175% and Denmark +127% and the Netherlands +102%.
Bang continues “A lot of businesses stagnate after a merger, due to taking their eye off the ball to combine the business; however, we have bucked this trend with fantastic sales growth year on year, which is huge testimony to our great teams and a successful merger. Moving forward, we are expecting healthy double-digit growth this year and our vision is to only go after quality business.
Stuba goes on to report their direct connectivity business has increased 315% in Q1 of 2019 compared to 2018 and attribute this to working with direct connections that offer better pricing and greater availability. Stuba will also shortly be announcing some radical changes and investments to the technology division to improve and innovate to help their customers sell more effectively.