IBM profits up 36 p.c.
NZPA-Reuter Armonk • New York International Business Machines, the biggest manufacturer of computers and office equipment, has reported a 36.3 per cent rise in third-quarter profits despite the recession. IBM said profits rose to SUS944M (SNZI3I2M) in this year’s third quarter from SUS693M (SNZ963M) in the corresponding period of 1981. The president of IBM (Mr
John Opel) said in a statement: “Over all. orders have exhibited strong growth over last year, though in the last several months we have seen somewhat higher order cancellation and deferral rates on some of our products." He said the recession was being felt in IBM’s overseas activities, remarking that "operations continue to be adversely affected by economic problems in a number of major countries in which IBM does business."
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Press, 26 October 1982, Page 33
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129IBM profits up 36 p.c. Press, 26 October 1982, Page 33
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