Fuji Xerox's New Zealand business recorded a reduced loss before tax of $12.4 million in its 2018 financial year compared with $14.9 million in 2017.

In New Zealand, Fuji Xerox operates as two legal entities – Fuji Xerox New Zealand Limited and Fuji Xerox Finance Limited.

The embattled vendor, which remains excluded from some government contracts after a $450 million sales and accounting scandal that originated in New Zealand, reported positive operating cash flows and an improved working capital position driven by a reduction in inventory, receivables, and borrowings.

"Fuji Xerox New Zealand is today a fundamentally different organisation,” said Peter Thomas, managing director of Fuji Xerox New Zealand. "We have implemented a significant restructuring of our business, processes and culture.

"This has led us to re-focus on our core products and services for customers in New Zealand and is building the foundations for a long-term sustainable business."  read the rest here

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