Hewlett-Packard New Zealand sees net profit for year decline 76.1%

Hewlett-Packard's New Zealand operation has released its latest financial report detailing its finances for the year ended 31st October 2023. The report shows that Hewlett-Packcard's gross profit increased from NZD $26.6 million in 2022 to NZD $28.7 million in 2023, an increase in gross profit of roughly 7.5% year-over-year. Importantly however, the company's net profit for the year (total comprehensive income) saw a substantial decline, down 76.1% from NZD $23.7 million in 2022 to just NZD $5.7 million in 2023.

The company's profits before tax also saw an increase from NZD $4.5 million in 2022 to NZD $6.2 million in 2023, a 37.8% increase year-on-year.

The company's total assets saw a large increase year-on-year, increasing from NZD $108 million in 2022 to NZD $119.7 million in 2023, a 10.8% increase.

Another area of interest is Hewlett-Packard New Zealand's Cash and Cash equivalents at the end of 31st October 2023, which saw a very minor increase of 0.7% from NZD $7.9 million in 2022 to NZD $8 million in 2023.

Revenue for the company also grew, up from NZD $144.7 million in 2022 to NZD $158.4 million in 2023, an increase of roughly 9.5%.

The audit of Hewlett-Packard New Zealand was performed by Ernst and Young Global.

Hewlett Packard Enterprise (HPE) recently revealed the latest update of HPE GreenLake for Block Storage, identified as Release 3. This is centred around the HPE Alletra Storage MP, considered to be the first scale-out disaggregated block storage in the industry. Such a technology grants enterprises the ability to independently scale capacity and performance.

HPE GreenLake for Block Storage employs a shared-everything storage architecture. This novel block storage offering delivers extreme resiliency and performance streamlined for modern mission-critical workloads. Crucially, it recreates an on-premises cloud experience and efficient scale.

"As enterprises continue to drive data-driven modernisation, many are faced with legacy data storage complexities slowing down their progress," noted Justin Chiah, Vice President and General Manager, Data Services and Storage, Asia Pacific, Hewlett Packard Enterprise.

"The release 3 of HPE GreenLake for Block Storage built on HPE Alletra Storage MP represents a huge step forward as we continue to expand the HPE GreenLake for Block Storage offerings to deliver significant benefits in scale, performance and availability," Chiah says.

All figures are rounded to one decimal place.