While Brother says that its sales across New Zealand increased only 13% to $NZ69.7 million between 2009 and 2010, tight expense control and an increase in margins (34% to 37%) over same period, came together to give a $4.9 million dollar profit, up 46% on 2009.
The overall increase in expenses for the year was only up 12%. Salaries, wages and commissions were up 18% to $4.6 million. Figures show that the firm also reduced its inventory levels by 24% to $10.5 million.
Interestingly the company’s bad debt provision was only $7000 for the year, which is relatively small for a $69 million dollar company.
The local office has made a provision for remitting a dividend of $2.4 million to its head office during the year.
Brother has had a presence in the New Zealand market for over 50 years.