Margins & revenues up at New Zealand arm of Acer Computer
The New Zealand arm of Taiwanese manufacturer Acer Computer has filed their financial statements.
The statements look back at the New Zealand financial year finishing 31st December 2021.
Revenue was up 4% or $2.1 million from the previous year to $54.3 million.
It's gross profit margin was 7.6% up from 6.4% the previous year.
Both distribution and administrative expenses where up about $300k each year over year.
This finally resulted in their Net Profit before tax increasing 34% to $721k.
When we look to the vendors balance sheet in New Zealand, their cash holdings were up slightly to $8 million.
They also extended a lot more credit to their customers with trade and other receivables increasing 89% to $9.6 million.
At the same time local inventories increased 57% to $11.2 million on hand.
$4.8 million of accumulated losses have been carried forward according to the filing.
Acer's accounts are audited by KPMG out of their Sydney office.
All amounts are in New Zealand dollars.
You can read the full report here.