Microsoft New Zealand reports stable financial performance for FY 2024
Microsoft New Zealand has released its financial results for the fiscal year ending 30 June 2024, showcasing a stable performance in line with expectations despite a dynamic economic environment.
The audited statements, prepared in accordance with New Zealand Equivalents to IFRS Accounting Standards – Reduced Disclosure Regime (NZ IFRS RDR), provide insights into the company's operations and financial health.
Key Financial Highlights
The consolidated financial statements for the Group, including Microsoft New Zealand Limited and its subsidiaries, reflect a balanced performance.
The Group's consolidated statement of comprehensive income, consolidated statement of changes in equity, and consolidated statement of cash flows were audited with an unqualified opinion by independent auditors, indicating compliance with applicable standards and ethical guidelines.
While specific financial metrics such as revenue, profit margins, and net income were not explicitly disclosed in the publicly available report, the overall findings suggest a sound financial position and effective management of resources.
Audit and Compliance
The independent auditor's report, dated 27 November 2024, concluded that Microsoft New Zealand's financial statements fairly represent the consolidated financial position as of the fiscal year-end.
This assessment underscores the company's adherence to robust financial reporting practices and internal controls.
The audit was conducted under the guidelines of International Standards on Auditing (ISAs) and their New Zealand equivalent.
The auditors highlighted the sufficiency and appropriateness of the evidence obtained during the audit, reflecting confidence in the integrity of the company's reported figures.
Governance and Management
Microsoft New Zealand's directors remain committed to ensuring the accuracy and transparency of financial reporting.
Their responsibilities include the preparation and presentation of the financial statements and assessing the Group's ability to continue as a going concern.
The auditors noted that no material misstatements were identified, affirming the reliability of the company's financial processes.
Strategic Focus
The company has demonstrated resilience in navigating economic uncertainties.
By prioritising its long-term goals and maintaining a focus on operational excellence, Microsoft New Zealand continues to align its activities with the broader objectives of the global Microsoft Corporation.
Outlook
The stable results for FY 2024 set a solid foundation for the company to build upon in the coming year.
As technology demands evolve, Microsoft New Zealand's ability to adapt and innovate will be pivotal in maintaining its market position and addressing emerging challenges.
In conclusion, Microsoft New Zealand's audited financial results reflect a well-managed organisation with a commitment to compliance, transparency, and financial stability.
These attributes position the company to effectively respond to future market dynamics while upholding stakeholder confidence.
