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SAS Institute's NZ sales surge in 2019, but profits not so much

SAS Institute's NZ sales surge in 2019, but profits not so much

Cost of sales increases almost in line with sales lift

Credit: ID 115048479 © Venkra | Dreamstime.com

Data analytics software specialist SAS Institute NZ enjoyed a nearly 40 per cent surge in sales in the year ended 31 December 2019.

Sales were up from $21.7 million to $30.3 million, however, cost of sales moved almost in lockstep, reducing the impact on both gross and net profit.

Inter-company royalties due to SAS Institute NZ's North Carolina-based parent, for instance, increased from $9.6 million to $14 million, during the year.

Gross profit lifted 13 per cent from $7.5 million to $8.5 million while net profit after tax was up 5.4 per cent from $539,000 in 2018 to $568,000.

Most of the sales increase came from software, with services revenue only slightly up from $12 million to $12.5 million.

A disclosure from Inland Revenue also revealed it had awarded three contracts to SAS during the nine months ended 31 March with a total value of just under $10 million.

SAS Institute declined to comment on the local results.



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