Amid a challenging global economic landscape, Microsoft New Zealand has reported a strong financial performance for the fiscal year ending June 30, 2023. The branch has witnessed an 11.48% increase in revenue, escalating from NZD $1.06 million the previous year to $1.18 million, signalling its substantial market presence and growth in the local tech sector.
Net profit for the year exhibited a stable outlook with a marginal increase of 0.14%, despite a significant 35.09% rise in income tax expenses, which now stand at over $15 million annually. This rise in tax reflects the branch's increased profitability. This is also amongst a landscape of ongoing focus from the New Zealand government on multinational companies' tax affairs.
Total assets saw a healthy increase of 13.14% to $762.30 million, indicating strong capital investments and asset growth. This may be related to the company's New Zealand data centre construction underway.
Liabilities have grown by 11.37%, maintaining a balanced growth trajectory compared to the rise in assets. Highlighting the branch’s financial health is the total equity, which has surged by an impressive 17.94% to $211.41 million, assuring stakeholders of the branch's increased value and sustainable financial strategies.
As Microsoft New Zealand navigates through economic uncertainties, its financial strength leaves it in a great position to continue to invest in its New Zealand operations and to further its mission of empowering every person and every organization on the planet to achieve more.