Infor NZ revenues accelerate in 2019 at the expense of profit
- 06 September, 2019 09:00
Shane Ellison, chief executive of Auckland Transport, and Helen Masters, senior vice president, Asia Pacific, Infor, sign a new enterprise asset management software deal this month.
Global ERP software company Infor reported stellar New Zealand sales for the year ended 30 April, up more than 50 per cent.
The local business of the New York based company recorded revenues of $35.9 million,up from $22.4 million last year, according to accounts filed with the NZ Companies Office.
Cost of sales also rose, however, from $14.1 million to $24.7 million, leaving a gross profit of $11.2 million compared with last year's $8.2 million.
As sales and administration costs also increased by more than $3.5 million, Infor New Zealand recorded a reduced net profit of $2.9 million, down from $3.4 million.
Infor's 2020 financial year appears to have kicked off strongly as well. Earlier this month the company announced a significant win at Auckland Transport, which is rolling out the software to improve enterprise asset management.
Newly released contract data from Auckland Transport show software licenses for the project to the value of $7.6 million were contracted with Infor on 1 August.
Another contract, labelled "enterprise asset management solution SOW1", presumably standing for "statement of work", was inked on 9 August for a further $3.8 million.
The data also show a $235,000 contract was signed on 30 August with Caerus Strategies for project management services on the roll-out.
Infor New Zealand's revenue was made up of on-premise licenses ($1.5 million), SaaS licenses ($6.6 million), maintenance and support ($11.5 million), and professional services ($16.3 million).