IBM NZ grows revenue by six percent

IBM's New Zealand subsidary posts after tax profit of $36.8 million for 2012 financial year

IBM New Zealand grew revenue in 2012 by six percent year on year, its third consecutive year of revenue growth. Pre-tax profit also grew, up 13 percent to $50.8 million.

Operating revenue of $429.7 million was up $24.8 million on the previous year. After-tax profit was $36.8 million compared to $32.3 million in 2011.

The company says that as financial services organisations refresh infrastructure, responded to regulatory requirements and invested in digital channels, it experienced high demand across its portfolio from clients in the sector, for mobile development services, consultancy services, data centre and mainframe systems.

There was strong growth in software sales, driven by demand for data management and analytics and through leveraging acquisitions, IBM says.

Key deals during the year included contributing to core banking conversions to support the merger of the National Bank and ANZ Bank, replacing the Auckland University of Technology’s core network as part of a five-year services contract, and a new long-term signing with Westpac to deliver application development and management services.

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