Optical-media distribution company, E-Net Computers Limited, continues to record huge profits, amid a world-wide collapse in the price of DVDs.
Edinburgh-based IT and property entrepreneur Shaf Rasul's core operation delivered a turnover of £54million and an operating profit of £3.7million for the year to March 31.
Rasul says the latest results are an incredible performance, considering an oversupply in the market had caused the price of DVDs to fall from $5 to 12cents in the space of two years.
“This is a great result when you look at the fall in prices,” Rasul maintained.
“Some of our competitors have gone out of business, but we are doing extremely well and continue to be very profitable.”
Turnover and operating profit at E-Net Computers Limited dipped 20 percent and 16 percent respectively throughout the past financial year.
However Rasul – who recently moved his operations to a new office and warehouse facility at Newbridge – added that the company had also sold its retail business and was still waiting on new product investment to start returning profit.
Meanwhile, a further arm within Rasul's widening portfolio, Data-Safe Limited, posted a turnover up 20 percent at £1.78million and an operating profit up 4.5percent at £1.04million.
Rasul has recently paid £3million for the former Martin & Frost furniture store in Edinburgh, which he intends to turn into the most hi-tech apartments in Scotland, equipped with wireless technology, plasma screens and video on demand.
He has also moved into the lettings business after investing £250,000 to launch the Excelet agency, with two showrooms planned for Edinburgh's New Town and Dalry in the west-end of the capital.
With a personal fortune in excess of £100million, Rasul, was this year shortlisted for the Ernst and Young Entrepreneur of the Year Award and named the wealthiest Asian in Scotland as well as the 27th richest Asian in the UK.