Intellectual property firm AJ Park New Zealand increased its profit by 4.25% this financial year.
The company’s financial statements show net profit after tax rose to $10.24 million in the 12 months ending June 30, 2023, from $9.83m a year earlier.
The 132-year-old firm's revenue rose to $78m from $74m the prior year, spending $25.46m on staff in NZ.
AJ Park's managing director, Andrea Dickens, said joining IPH Group six years ago helped drive its ongoing success.
“Our group works with clients ranging from multinationals to start-ups in more than 25 countries, and we are one of the largest IP firms by headcount and turnover in the Southern Hemisphere.”
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Dickens said AJ Park had many innovative clients that continually provided the firm with challenging and interesting work.
She said the wider group recently acquired a third IP business in the Canadian market.
It opened up even more opportunities for AJ Park, as it supported firms in North America to enter the NZ market and vice versa, she said.
“As a listed group, we have access to capital in public markets that has enabled us to invest in other leading IP businesses and continue to enhance our international service offering to clients.”
The board declared dividends of $8.04m, with $43,200 paid during the year.
Dickens said the firm had a talented team who were dedicated to supporting its clients with intelligent action. (Image: IPH Limited/AJ Park)IPH Group
AJ Park is owned by IPH Group, listed on the Australian stock market. In its most recent investor presentation last month, the company stated that AJ Park was the number one patent group and trademark group in NZ and Australia.
IPH Group reported A$496.2m (NZ$529.6m) revenue for the full financial year ending June 30, 2023, up 29% from the previous year.
Its net profit after tax was A$99m, an increase of 20% from the previous year.
IPH spent A$2.8m in March after a data breach from its Australian arm as an unauthorised third party accessed and downloaded data relating to some of its clients, including historical financial and corporate information.
It reported no known loss of client relationships due to the incident.
