Apple NZ reports lower FY profit, defers taxes

Tue, 28 Feb 2017

By Rebecca Howard March 1 (BusinessDesk) - Apple Sales New Zealand, the local unit of the iPhone and iPad maker, reported a lower annual profit on a higher cost of sales, despite spending less buying inventory from related companies. Profit was $6.5 million for the year ended Sept. 24, 2016 versus $17.8 million a year earlier, according to financial statements lodged with the Companies Office. Revenue rose 1.6 percent to $744 million. Of that, sales of goods rose to $732 million from $721 million the prior year while service fee income r...

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