The Kiwi love affair with Apple appears to be growing if the latest financial records for Apple Sales New Zealand are anything to go by, with the company clocking a 29% increase in revenue and a whopping 74.5% increase in gross profit last year.
The report, for the year ending 26 September 2015, shows the company made revenue of $732.0 million for the year, with a gross profit of $30.3 million. A year earlier the company recorded revenue of $568.5 million, with gross profit of $17.4 million.
Apple Sales New Zealand is the local business selling and marketing Apple products, including mobile communication and media devices, personal computers and portable digital music players, and a range of software, services, accessories, networking solutions and third-party digital content and applications.
The company’s revenue is broken out into sales of goods, accounting for $720.5 million and service fee income, which accounted for $11.5 million, showing sales of goods was the big winner for the company – up from $556.9 million in 2014, while service fee income dropped slightly to $11.5 million.
The records cover the first full year since Renaissance sold the Yoobee Retail operations to Logical Systems in early 2014.
The company recorded a foreign exchange loss of $7.4 million, well in excess of 2014’s $758,306.
At a time when international name companies are coming under flak for how little they pay in income tax here, Apple Sales New Zealand paid $8.9 million in income tax, up from $6.8 million a year earlier.
Wages and salaries were paid to the tune of $896,776, down from 2014’s $992,884.
The company ended the financial year with a total comprehensive income of $17.7 million, a 17% increase on a year earlier.
The financial report shows Apple Sales NZ closed out the 2015 financial year with $148.0 million in total equity.