Anyware NZ achieves steady growth
- 14 November, 2010 22:00
The local branch of accessories distributor Anyware has posted small year-on-year gains in revenue and profit, according to the latest results from the Companies Office.
For the year ended March, revenue rose about $20,000 to $2.57 million while gross profit rose $10,000 to $492,000.
The business recorded a boost in its overall bottom line profit from $18,000 last year to $54,000 this year. That is the highest the branch has recorded since it was incorporated here in 2003. Profit has fluctuated since then: it posted losses in 2004 and 2006, but achieved a surplus of $35,000 in 2007 and $34,500 in 2008.
ANZ managing director Garrison Huang says he is pleased with the latest result amid challenging economic conditions in 2009. He says the growth in revenue and improved margins are a result of changes in product offerings in the past year and a half.
“We have streamlined the product range in New Zealand to focus on the ones that made a difference to the business and that there was demand for,” Huang says.
He doesn’t know how many products were cut in the past year and a half, but it was a “big percentage” of the range.
He says Anyware has established a tight team environment locally under manager Winnie Han, and is now less reliant on the Australian business. In the past year, Anyware has allowed the New Zealand branch to have stock shipped directly from overseas suppliers rather than from the Australian business.
Anyware sees recent consolidation in the local distribution market as an opportunity to again revise its product range, with a view to adding more products.
Huang says it will add a wireless HDMI product in Australia and New Zealand before Christmas.