Apple New Zealand announces profit jump

apple logoApple New Zealand saw a 29 per cent increase in revenue and a 74.5 per cent increase in gross profit last year.

The company announced, for the year ending September 26, a revenue of $732 million, with a gross profit of $30.3 million, up from the previous year’s revenue of $568.5 million and gross profit of $17.4 million, a report from Channel Life stated.

Apple Sales New Zealand sells and markets Apple products, including mobile communication and media devices, personal computers and portable digital music players, as well as a range of software, services, accessories, networking solutions and third-party digital content and applications.

The company’s sales of goods accounted for $720.5 million of the total revenue and the service fee income accounted for $11.5 million.

The records show the first full year since Renaissance sold the Yoobee Retail operations to Logical Systems in early 2014.

Apple Sales NZ ended the financial year with a total comprehensive income of $17.7 million, a 17-per cent increase from the previous year.

The report also showed the company closed out the 2015 financial year with a $148 million in total equity.

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