Published in News
Acer profits plummet down-under
Slack jaw not too much to say
Acer sales are taking a beating in Australia at the moment.
According to accounts filed with the Australian Securities and Investments Commission, Acer's net profit tumbled from $11.1 million at the end of 2005 to $6.3 million last year.
This represents a 43 per cent drop in net profit in the 12 months to December 31. Revenue slipped five per cent to $491.5 million.
Sales have been hit while staff costs have increased. Acer's employee benefits expenses rose from $29.3 million a year ago to $32.6 million at December 31 and its headcount rose by 3.5 per cent to 442 people.
Acer manufactures its products in Australia but said that the cost of its raw materials dropped by eight per cent last year.