Microsoft’s Australian business’ revenue jumped by nearly a fifth during the 2021 financial year to a hair over $5 billion, avoiding the economic impact of COVID-19 once again.
According to the tech giant’s financial report for the 12 months to 30 June 2021, its revenue revenue rose 18.8 per cent and comes off the back of its 41 per cent rise in FY2020 to $4.2 billion.
Meanwhile, post-tax profit was up 23.3 per cent, from $120.7 million in FY20 to $148.8 million in FY21.
These increases in revenue and profit come amid the outbreak of the Delta variant plunging Australia into numerous state lockdowns throughout 2021. In fact, Microsoft claimed it was largely unfazed by the ongoing pandemic in the short-term.
“Management have evaluated the financial impact of COVID-19 on the entity's operations, solvency and liquidity and to date no significant negative impacts as a result of COVID-19 have been identified to cast doubt on the entity's ability to continue operating as a going concern in the foreseeable future,” Microsoft’s financial report stated.
“Management acknowledge that these unpredictable times can have a huge impact on people and organisations and keeps monitoring these uncertainties very closely,” it added.
Its tax bill however steadily increased from the financial year prior’s $74.8 million to FY21’s $82.4 million, as did its occupancy from $6.2 million in FY20 to $8.5 in FY21, the latter of which following its move last year to implement a standardised working from home policy for its employees on a global scale.
Microsoft’s Australian business results come as it made the move shortly after the start of the new financial year to roll both its Australian and New Zealand businesses into a single region in the hopes of promoting more trans-Tasman cooperation between the respective countries’ partner business teams.
“[The move is] really important because it recognises the similarities between our two economies in between the two marketplaces,” Microsoft Australia managing director Steven Worrall told ARN at the time of the announcement.
“It also, importantly, recognises the similarities in our partner network because, in fact, 70 per cent of our partners are common. We have Australian and NZ enterprises that span both markets."
“In a way, with Microsoft coming together across Australia and New Zealand, we’re mirroring many of our partners because they they've been serving both markets together for some time,” he added.
