IBM New Zealand increased its after-tax profit to $20.1 million for the 12 months to 2009, according to documents filed with the Companies Office today.For its 2008 year, IBM had a profit of $14.3 million.Revenue for 2009 was $373.5 million, a $17.9 decre
IBM New Zealand increased its after-tax profit to $20.1 million for the 12 months to 2009, according to documents filed with the Companies Office today.
For its 2008 year, IBM had a profit of $14.3 million.
Revenue for 2009 was $373.5 million, a $17.9 decrease over 2008.
The company credits a string of new deals, including a $US10 million services contract with ING New Zealand, for its improved profit.
NBR understands IBM NZ is one of the companies competing for Telecom's giant internal IT contract. The outsourcing contract, currently held by HP/EDS, is up for tender.
IBM NZ's US parent recently reported a bullish forecast for the company's global operations.
