Menu
NTT New Zealand sees sales lift in 2020 but tax drives increased loss

NTT New Zealand sees sales lift in 2020 but tax drives increased loss

NTT's local business books tax and accounting adjustments in year of change

Credit: Alexey Novikov, Dreamstime

NTT New Zealand, formerly Dimension Data, reported increased sales of 4.2 per cent in the year to 31 March, 2020, but tax and other adjustments drove losses higher.

Revenue lifted to $185.1 million from $177.7 million while the company's loss before tax fell slightly from $7.4 million to $6 million.

That loss included the recognition of $5.8 million in extra expenses due to accounting policy changes adopted during the year.

NTT NZ also booked $10.6 million in deferred tax expenses on prior-year losses because it didn't have "visibility" over future taxable profits that could be used to unwind the deferred losses.

That combination drove net loss after tax for the year to $16.6 million from $6 million in 2019.

NTT NZ has been undergoing a period of change under new CEO Simon Gillespie, who has been asked for comment.

Last month, NTT was named the technology partner for the New Zealand Campus of Innovation and Sport.







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.

Tags New Zealanddimension dataICT servicesNTT

Brand Post

Featured

Slideshows

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
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
Show Comments