HP revenue up 52% for year

Defying the flat economy, Hewlett-Packard New Zealand has had an outstanding fiscal year. Revenue has soared 52% over last year, to $221 million, the second-best performance for HP in the Asia-Pacific region, behind Taiwan. The company has generated what managing director Bob Cattell describes as a very healthy double-digit net profit.

Defying the flat economy, Hewlett-Packard New Zealand has had an outstanding fiscal year. Revenue has soared 52% over last year, to $221 million, the second-best performance for HP in the Asia-Pacific region, behind Taiwan.

The company has generated what managing director Bob Cattell describes as a very healthy double-digit net profit.

"Revenue increases have been right across the board other than the test and measurement business," he says.

"The highlights have been in the high-end Unix and PC home markets. The Pavilion range has been outstandingly successful."

Major deals were done during the year with Telecom, Social Welfare, Housing and several companies in the Fletcher group.

Cattell says HP inkjets have made major market share gains after losing ground during the past two years. That's been driven by demand for the Photo Ret II technology, which uses ink-layering to give photo--quality prints.

Corporately, Hewlett-Packard has reported fourth-quarter net earnings of $US710 million, down 12% compared to last year's corresponding period.

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