IBM NZ, Year to Dec 31, 2012
Net profit: $36.8m (2011: $32.3m)
Revenue: $429.7m (2011: $404.9m)
IBM's New Zealand operation has reported a 12% bump in profit for its financial year to December 31, 2012.
After-tax profit increased to $36.8 million from 2011's $32.3 million.
Revenue increased 6% to $429.7 million.
The company says major projects during the year included replacing AUT University's core network as part of a five-year contract; the merger of ANZ and National Bank's systems as the two banks merged; and a new contract with Westpac that includes mobile and online development.
Rival HP recently reported a $92.5 million loss for the year to October 32, 2012 on revenue that fell nearly 12% to $647 million. Most of the loss was accounted for by write-offs associated with the local leg of a global restructure.
On April 30, Rob Lee was named the new managing director of IBM New Zealand.
He is transferring from Sydney to Auckland to start this month.
The ex-pat has been with the company for more than 25 years, most recently as MD of IBM's Westpac Integrated Account.
IBM's NZ MD for the past four years, Jennifer Moxon, is moving to Sydney to become Vice President of IBM’s public sector practice across Australia and New Zealand.
NBR staff
Tue, 21 May 2013
Tue, 21 May 2013
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IBM NZ profit up
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