IBM N.Z. 11 p.c. lift

Press, 19 February 1987, Page 25

IBM N.Z. 11 p.c. lift

IBM New Zealand, Ltd, after-tax profit for 1986 was up 11.29 per cent on 1985 at $27.6 million. Revenue was up 22.1 per cent at $254.6M.

Tax was up 21.8 per cent at $25.7M. Mr Basil Logan, New Zealand chairman, said revenue had risen at a compound rate of 33 per cent since revenue reached SIOOM three years ago. In 1986, IBM New Zealand increased its staff 27 per cent to 770 with the majority of new staff being graduates. New capital expenditures for the year amounted to $20.2 million, a 23 per cent increase over 1985. These expenditures were principally for

the company’s new centre at Petone with distribution and warehousing facilities, engineering workshops, a computer facility and education centre.

IBM invested S4M in 1986 in education and formal training and development of staff.

The company continued to make major contributions towards educational, scientific, cultural and charitable programmes. These included a grant of 31 personal computers (PC/JX’s) and 10 PC convertibles to Massey University. The university in conjunction with the Department of Education will design, develop and field test an integrated

secondary school curriculum using computers at the Freyberg High School in Palmerston North. IBM’s contribution is valued at more than $600,000. A further grant was the provision of computing resources to support, in collaboration with the Department of Education, a project to provide information on students’ choices of occupations and paths in education. Sponsorship of the arts in New Zealand continued in 1986 with grants to the New Zealand Symphony Orchestra, the New Zealand Festival of the Arts, the Royal New Zealand Ballet and the IBM New Zealand Writers and Art awards.