On paper, it could appear that Lenovo ANZ had an absolute bumper of a year, with after-tax profit for the year ending March 31, 2018, coming in at AU$12.6 million against AU$0.7 million the year prior, but it doesn't tell the full story. Revenue for Lenovo's Australian and New Zealand operations totalled AU$719 million compared to AU$737 million a year prior. Services revenue was down by a quarter on 2017's AU$31.3 million number to AU$23.3 million, while revenue from sales trickled down by 2.3 percent from just shy of AU$700 million to AU$683 million. Consequently profit before income tax fell to AU$5.22 million from AU$5.78 million a year prior. Although the company said it paid AU$5.5 million in income tax for 2018, AU$2 million lower than in 2017, the company also received a deferred tax benefit of AU$10.6 million that gave a AU$12 million turnaround in the income tax line item.
Feb-1-2019, 01:14:08 GMT