Apple's NZ sales arm reports $28m profit as revenue climbs

Apple's New Zealand sales arm has reported a $28.8 million profit for the last financial year, up from $23.4 m in 2020.

Apple's financials for the year to 25 September 2021 show the company's revenue reached $1.17 billion, also up from $965,510 the previous year.  Almost all of its revenue came from products ($1.1 billion), while $28.2 million came from services.

Cost of sales also rose to $1.1 billion, up from $925,109 in 2020, leaving the company with a gross profit of $53.7 million, up from $40 million in the previous year.

The company also reported a net loss income of $488,000, as well as sales, general and administrative expenses of $12 million, and finance income of $10,000. Income tax also accounted for $12.4 million, up from almost $8 million in 2020.

During the 2021 financial year, Apple released products and services in the New Zealand market including the HomePod mini, the macOS Monterey, watchOS8, iOS 15 and iPadOS 15 operating systems, the MacBook Pro, AirPods, an Apple Music Voice subscription tier, Apple Watch 7, the iPhone 13, iPad mini, iPad, Apple TV 4K, and others.

The company also made an effort to offer self-service repair to customers wanting to make their own repairs on their iPhone 12 and iPhone 13 devices. This will launch in the United States this year, with an expected rollout to more countries throughout the year.

*Some figures in this story have been rounded for brevity.