HPE New Zealand reports strong 2019 year
- 31 March, 2020 07:47
Accounts filed by Hewlett Packard Enterprise NZ show the company traded strongly in the year ended 1 October 2019.
Reported revenues for the local business, registered here as Hewlett-Packard New Zealand, were up from $120.3 million to $139.2 million.
Cost of sales also increased, however, from $101.9 million to $115.9 million leaving a gross profit increase of $5 million, from $18.5 million to $23.5 million.
With other expenses broadly in line with 2018, HPE NZ went from a net loss of $1.5 million to a profit of $3.6 million year on year.
Revenue from goods and and from services both increased during the year. Sale of goods lifted from $71 million to $82.7 million while services increased from $49.3 million to $56.6 million.
In a note to the accounts, HPE reported that on 20 December 2019, it entered into a agreement to acquire the business of Cray NZ for $678,843 effective 1 January 2020.
That represented the local portion of HPE's US$1.3 billion global buyout of the super computer maker.
The accounts also noted that Covid-19 was an emerging and growing global and local issue with as yet unknown community and economic consequences.
"Should the virus pandemic continue for an extended period of time, possible financial impacts may include: impairment concerns, supply chain and logistics interruptions, changes in customer buying patterns and volumes and cash flow disruption.
"As none of these items are known with any certainty at the date of this report, no financial effect of these items or other potential items are contained in this financial report."
HPE was founded in late 2015 after the split-up of the iconic Hewlett-Packard company.
It retained the server, storage and networking as well as related consulting, support and finance services after it in turn split, divesting its enterprise services business and merging them with those of Computer Sciences Corporation (CSC) to form DXC Technology in 2017.
HPE's software business segment was also divested in a merger with UK-based Micro Focus in 2017.