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Higher expenses see Fujitsu NZ record a loss in 2017

$3.3 million of asset impairments send Fujitsu into a loss for the year.
Fujitsu New Zealand recorded a loss in 2017 due to impairments.

Fujitsu New Zealand recorded a loss in 2017 due to impairments.

Despite increased sales, Fujitsu New Zealand fell into a loss for the year ended 31 March 2017, accounts filed with the Companies Office reveal.

Sales grew from $167.9 million to $173.8 million during the year but expenses increased even more, from $164.2 million to $173.6 million.

That took Fujitsu from a $2.8 million net profit after tax in 2016 to a $603,000 loss.

Asset impairments of $3.3 million, mostly related to the value of plant and equipment, appear to be the major factor in the result.

Fujitsu did not respond to a request for comment on the results.

Fujitsu supplies ICT goods and services, including a long standing SAP practice and end-user computing solutions such as desktop as a service.

More recently it has been focusing on answering customer demand for digital business transformation, including cloud services.