Xerox increased its profit in its Q3 thanks to its digital printer and copier businesses as it capitalised on reduced costs.
Chairman and CEO Pail Allaire said Xerox?s digital and colour products led growth in the company. Xerox made $310 million profit in the quarter to 30 September, up from $250 million in the same period last year. Its turnover rose from $4.16 billion to $4.38 billion, despite currency fluctuations which eliminated almost half of Xerox?s revenue growth.
Digital product revenue grew 26 per cent in Q3 and costs accounted for 29.4 per cent of turnover, a fall of almost one per cent. Allaire said Xerox is on course to maintain double-digital growth despite the disadvantage of the strong dollar. "Adverse currency will continue the pressure on our results for the remainder of the year," he admitted.
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