Hewlett-Packard, the technology company that employs more than 1,500 people in the Republic, has reported a sharp rise in its third-quarter profits. The results build on the recent momentum that has reversed several quarters of disappointing results and brought the company's share price to a fresh high.
Revenue for the three months to the end of July rose 11 per cent to $12.2 billion (€11.6 billion), while net profits climbed more than 37 per cent to $853 million. The company said revenue in Europe was up 13 per cent at $4 billion, while US revenue was $5.6 billion, up 8 per cent, and in the Asia-Pacific region $1.7 billion up 24 per cent.
"Hewlett-Packard sales in Ireland continue to grow well ahead of the corporate numbers," said Ms Elma Murphy, general manager in Ireland. "All computer and measurement businesses have show healthy growth, well ahead of market trends."
The company has a sales force of more than 100 in Dublin, with 1,400 working at its inkjet cartridge manufacturing facility in Leixlip, Co Kildare.
The firm, based at Palo Alto, California, said the strong results reflected record shipments of consumer PCs, double-digit revenue growth in its printing and imaging businesses and a turnaround in the test and measurement operations, which are being spun off into a separate company.
In addition, business in the Asia Pacific, an area of concern in recent quarters, staged a strong comeback.
"We executed very well on many fronts," said Mr Robert Wayman, Hewlett-Packard's chief financial officer, Mr Robert Wayman. "We have said that our focus was going to be on top-line revenue growth, and Ms Carly Fiorina has re-emphasised that profitable growth remains Hewlett-Packard's key objective," he said, referring to the recently appointed chief executive, who will take over for Mr Lew Platt when he retires at the end of the year.
He said the company aimed to achieve revenue growth of 1013 per cent in the fourth quarter, and the firm was encouraged by data in the latest quarter showing overall orders grew faster than revenues.
