IBM Australia Ltd in Sydney and IBM New Zealand Ltd in Wellington have both announced reduced operating losses for 1992, with Australia reporting an operating loss equivalent to $45m, down from a loss last time of $166m, on turnover up a smidgen, 1.5%, to $913m. Chairman and managing director Brian Finn said the company was restored to a sounder footing during the year and that it had improved its market share. Finn said exports to the Asia-Pacific region were strong, despite a slowdown in some economies, and exports of personal computers rose substantially. Total exports in 1992 reached $256m and turnover per employee soared 38% to $329,000 – but that was because the company cut its workforce by a third. Revenue for professional services grew by 30%. Over the water in New Zealand, the local subsidiary announced a net loss equivalent to $1.4m, down from a loss last time of $43m on sales of $87m, up 1.2%; redundancies cost $1.9m last year with 52 people going in November.
