NTT flips last year's local loss as revenue plateaus

NTT flips last year's local loss as revenue plateaus

Product and technical revenue fell by 9 and 6 per cent respectively.

Tania Balcombe (NTT Ltd)

Tania Balcombe (NTT Ltd)

Credit: NTT

Technology services provider NTT Australia has flipped last year's post-tax loss, getting back into the black for the 2021 financial year ending 31 March.

The business formerly known as Dimension Data posted a post-tax profit of A$1.25 million for the period, having ended A$15.8 million in the red for the 2020 year. 

After exchange differences on translation of foreign operations, the total comprehensive loss for the period was just A$276,000. Last year, that figure was ended A$15.2 million.

NTT Australia, which includes subsidiary NTT New Zealand Database Solutions, formerly known as SQL Services, also saw its revenue marginally shrink, falling by A$60 million to close at A$1.3 billion.  

Broken down, the entity's revenue from customer contracts for products fell by 9 per cent from A$724 million to A$658 million.  

Consulting and managed services both remained steady, pulling in A$234 million and A$225 million, respectively. At the same time, revenue from technical services fell by 6 per cent to A$86 million.  

Meanwhile, NTT’s employee benefits fell by 5 per cent from A$135 million down to A$128 million.  

The company, which is part of the Japanese-headquartered global giant NTT, also saw its cost of services shrink from A$100 million to A$1 billion. 

NTT Australia’s tax bill fell from 2020’s A$18 million down to just A$547,000.  

Last financial year saw NTT Australia appoint go-to-market senior vice president and chief marketing officer Tania Balcombe as its new CEO across Australia and New Zealand (A/NZ).  

This followed the announcement that NTT Australia CEO and long-time local tech industry veteran Steve Nola would retire at the end of September 2020. 

The year also saw the company win a bundle of new hardware, licensing and services deals worth over A$50 million with Services Australia. 

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