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In the news: |
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| 19/05/2004 |
IBM Australia reports record sales for 2003 |
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IBM has produced record sales in Australia, reporting an 11 per cent increase in consolidated local revenues to $3.6 billion (Australian) dollar for the year to the end of December. This the first time IBM has publicly valued the local subsidiary, which has undergone an ownership restructure as part of a realignment and simplification of IBM’s corporate structure globally.
The results include revenue from IBM Australia, IBM Business Consulting Services and IBM Global Services. Net profit for 2003 financial year 2003 stood at $179.5 million, compared with $70 million the previous year, according to a filing with the Australian Securities and Investments Commission. Gross profit improved to $870 million, compared to $652 million the previous year. The company paid $101 million in tax.
IBM Australia also reported an end-of-year dividend to its ultimate parent in New York of $400 million.
According to analysts IBM Australia has grown faster than the industry average in all three segments of its core business in hardware, software and services. |
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