Home > Industry > Finance > One Loss, One Win: Mixed Fortunes At HP’s Down Under Subsidiaries

One Loss, One Win: Mixed Fortunes At HP’s Down Under Subsidiaries

Hewlett-Packard Australia’s enterprise services outfit posted a net after-tax loss of just under $44.8 million for the financial year ended October 2017, according to documents lodged with Australia’s corporate regulator last week.

That compares with a net after-tax profit of $1.3 million in the previous year. According to the company, the latest result reflect the sale of the local trade, assets and liabilities of its Enterprise Services business to CSC, Enterprises Services Australia and Enterprise Services New Zealand for $229.6 million, generating a loss of just under $8.3 million.

However it was a different story in another part of the HP empire Down Under, HP Inc Australia – which turned a profit in the year to October 31, following a loss in the previous period, according to its annual report lodged with the Australian Securities & Investments Commission.

The PC and printing business reported revenue at $1.47 billion for the year, up $11.2 million. Profit was $25.6 million, against a loss of $2.75 million in the previous year.

You may also like
Eftpos Protest: RBA Urged To Regulate Digital Wallets
HP South Pacific Post Profit Turnaround
Overheating HP Battery Recall Extended
Chinese AMP Contractor Pleads Guilty To Data Breach
Aussie VR Firm Team Up With Microsoft, Intel