Better margins boost IBM NZ profit

IBM New Zealand has posted an after-tax profit profit for the 2009 financial year of $20,152,000, compared with $14,271,000 the previous financial year.

The before-tax numbers were $28,096,000 ($19,644,000).

Operating revenue was down $17,944,000 at $373,496,000 but gross margins increased by 5%.

The company says in a statement that growth was primarily driven by software and systems. It was the fifth consecutive year of revenue growth for the IBM Software Group in New Zealand.

It says IBM has continued to hire in response to client requirements.

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