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November 25, 1993

H-P PROFITS SOAR IN AUSTRALIA

By CBR Staff Writer

Hewlett-Packard Co had a storming fiscal year Down Under, outdoing even its parent, Newsbytes reports from Sydney: profits soared 160% to $18.9m on turnover up 34% at $327m; We’ve substantially improved our productivity, said managing director Bill Hilliard, adding that the profit and revenue increases were achieved with no increase in staffing levels, and conceding that delivery problems a year ago saw some of last year’s business delayed into this year’s figures; exports made up 10% of turnover, with 85% of this coming from the Australian Telecommunication Operation, which makes testing equipment for digital communications lines – this business grew over 120% in the year.

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