Fuji Xerox New Zealand has reported a loss of almost $50 million in its annual report for the year ended March 31.
The company’s directors state they have taken steps to safeguard the assets of the company. In a statement, the company says “a decline in the traditional print services industry has impacted on its reported results which show decline in top line revenue and an operating loss for the financial year ending 31st March 2016.”
It adds that prioritising profit ahead of revenue growth is the result of a complete review of the business in New Zealand as well as changing market dynamics. Gavin Pollard, managing director of Fuji Xerox New Zealand, says, “We continue to lead the market in New Zealand and are well positioned to meet the future needs of our customers.
“Traditional print services remain at the core of what customers want from Fuji Xerox, but our industry is changing and we are adapting now for a stronger future. Our customer expectations are changing and we are investing heavily in document related technologies, services and solutions to ensure we stay at the forefront of our industry.
“Continuing our long history of innovation and change, this is an area of huge opportunity and we are investing heavily in skills and expertise to meet these evolving customer needs.
Fuji Xerox sees the coming 12 months very much ‘business as usual.’ Pollard concludes, “The good news is we have strong shareholder support which provides a great platform to develop the business further.”