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Fujitsu NZ climbs back to profit on flat revenue

Fujitsu NZ climbs back to profit on flat revenue

Tight rein on expenses lifts provider out of the red for the year to 31 March 2018

Fujitsu NZ is back in profit in 2018.

Fujitsu NZ is back in profit in 2018.

Credit: None

Technology and services provider Fujitsu has reported an improved operational result in New Zealand during 2018, after making losses in 2017.

While sales were flat year on year at $172.1 million, slightly lower than 2017's $173.8 million, Fujitsu reported a profit from operations of $3.6 million, up from just $140,000 in 2017.

That was enough to take the company's net profit for the year to 31 March out of the red (a 2017 loss of $603,000) and into the black to the tune of $2.7 million.

The tech giant appears to have tightened up its ship locally, cutting contractor and employee costs during the year from $87.4 million to $79.8 million - total costs fell from $173.6 million to $168.6 million.

Fujitsu's cash flow position also improved, with end of period cash and equivalents at $14.2 million compared with $5.9 million  in 2017.


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