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The local arm of global IT business services company EDS has reported a healthy rise in revenue and profit for last year after it picked up more high-paying work from its blue-chip client base.
EDS New Zealand said its total revenues during 2007 year rose 10 per cent to $396 million and after-tax profit was up 314 per cent to $33 million.
The company said it experienced solid financial performance and improvements across the board due to investments made in the business in 2006.
Last year it also saw growth in higher-value services like applications development, maintenance and management across nearly all sectors.
Profitability was improved through several initiatives, including an energy conservation programme which enabled greater energy efficiency in EDS data centres despite loads on the centres increasing by 26 per cent last year.
It said it also managed to cut general administrative costs through productivity and efficiency improvements.
EDS's customers include major corporates such as Fonterra and Telecom, and government departments including Inland Revenue and the Ministry of Social Development.
The company is currently without a permanent New Zealand leader after the departure of managing director Steve Murray in March after almost two years in the role.
In May, Hewlett-Packard announced the global acquisition of EDS for US$13 billion ($17.14 billion).
Together the two businesses generate more than $1 billion of annual revenue in New Zealand.
