Lenovo's Australia and New Zealand operations has seen profit after tax tip just pass AU$3 million for the period ending 31 March 2019, a significant drop from the same period last year when it recorded AU$12.6 million.
The local arm of the Chinese PC conglomerate, which employed 229 staff across Australia and New Zealand during the period, indicated its profit after tax was impacted by the AU$3 million in aggregate income tax the company paid during the financial year. The amount paid followed on from the AU$7 million income tax benefit the company received last year.
In addition, tax paid at the statutory rate of 30% was AU$2 million, a small climb from AU$1.6 million reported last year.
Net foreign exchange of AU$7.8 million was also to blame for the profit decline.
Meanwhile, the company reported that its consolidated revenue slightly increased to AU$799 million from the AU$728.9 million recorded during the corresponding period last year.
Of that, AU$788 million was revenue from contracts with customers that consisted of AU$748.8 million in sale of goods, while another AU$37.9 million was related to services.
Specifically, revenue accrued from notebooks made up a majority of total revenue for the year, coming in at AU$426.5 million, followed by desktops at AU$146 million. Chromebooks accounted for AU$11.4 million, with workstations making up AU$24 million in revenue, and tablets generating AU$29 million.
The company also paid AU$92 million less to its related entity Lenovo PC HK Limited for 2019, paying AU$588 million for goods and services compared to AU$680 million a year ago.
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