IBM NZ profit jumps 60%
New customers boost earnings.
IBM NZ, Year to Dec 31, 2011
Net profit: $32.27m (+60%)
Revenue: $404.9m (+7%)
After a flat 2010 result, IBM New Zealand's net profit jumped 60% to $32.27 million for 2011, documents filed with the Companies Office today reveal.
Revenue increased by 7% to NZ$404.9 million.
The company cited an IDC Asia Pacific survey that said the IT services market grew 3.5% during the same period.
A dividend of $20 million was paid to parent company IBM ANZ, up from $8 million in 2010.
The bump in profit came after a flat 2010 (with net profit of $20.21 million, fractionally up on 2009's $20.15 million), and revenue static at $379 million.
On top of multi-year agreements with Westpac and Air New Zealand (now split with Gen-i), IBM said its profit was lifted by new business.
The company signed 160 new clients included NZ Customs, Rakon, Port Taranaki and Workshop FX.
The year included the opening of an $80 million data centre in Auckland, in May.
Globally, IBM's 2011 revenue was up 7% (or 3% adjusting for currency) to $US106.9 billion.
Net income was up 7% to $US15.9 billion from the prior year's $US14.8 billion.
NBR staff
Thu, 17 May 2012
Thu, 17 May 2012
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IBM NZ profit jumps 60%
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