Confidence in office supply sector
Financial accounts filed by two of the country's largest office products companies appear to show diverging fortunes but both are confident about the future.
Fuji-Xerox posted a reduced after-tax profit of $1.6 million for the year to June 30 (down from $4.9m), while Ricoh's after-tax profit rose to $5.8m (from $3.9m the previous financial year).
Both bottom lines include the results of the company's respective finance divisions but are not directly comparable due to the different ways the companies are structured and how they pay or are paid by their parent firms.
Neither firm would disclose its market share but it is understood they, along with Konica Minolta, are the big three.
Ricoh managing director Mike Pollok was pleased with the reported profit, saying the business worked hard to provide value to its customer base.
Fuji-Xerox executives said they too were pleased with their performance and were on track for 10 per cent growth in the current financial year despite the flat market.
An earlier version of this story had Fuji-Xerox's profit at $2.2m. That was pre-tax. The correct comparison with Ricoh's post-tax $5.8m profit is $1.6m.