Menu
Infinity shows turnaround in fortune

Infinity shows turnaround in fortune

OVER a year of restructuring has returned to the black New Zealand-owned integrator Infinity Group, which has posted a $2.7 million surplus for 2003 after two years of losses.

The result to December 31 follows a June half-yearly after tax profit of $124,000.

Infinity’s two previous full year results were deficits of $3.1 million and $5.2 million in 2002 and 2001 respectively.

The company, formed at the end of 1999 from a merger of Madison Systems, Trilogy Business Systems and Comtex, returned to profitability on revenues of $66.7 million — 17% less than last year and 25% lower than 2001.

Infinity’s restructure included the shedding of over 60 staff in the last 12 months, and selling its subsidiary Vista Entertainment Solutions and software business Quanta.

“We’re now seeing the benefits of the business model transformation we began in 2002,” Infinity CEO Stuart Robb says in a company statement. “Regionally based teams have replaced a centralised national structure. A smaller, better-aligned management structure has improved accountability, cost control and profit outcomes. We have also improved our sales capability, creating more opportunity to identify, demonstrate and deliver solutions that work for our customers.”

“Long-standing” ones include EDS and Westpac, while 2003 project wins include the Fullers Group.

Infinity employs around 350 staff — compared to 500-odd at its peak — in various locations around New Zealand and Australias.

Market research firm IDC ranks Infinity as the third largest New Zealand owned IT firm on services revenue behind Datacom and Gen-i and “knocking on the top 10 door”, analyst Graeme Muller says.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments