While the manufacturer’s fourth-quarter net profit declined to $US2.11bn ($A3.25bn) from $US2.17bn ($A3.34bn), revenue was boosted thanks to the acquisition of Electronic Data Systems earlier this year.

IPG revenue dipped narrowly to the $US7.5bn ($A11.5bn) mark, while revenue within the group’s supplies arm increased 9%.

Revenue in the commercial hardware operation declined 10% with shipments of commercial printer hardware units down 9%.

Operating profit for the IPG stood at $US1.2bn ($A1.8bn) – 15.5% of the group’s revenue – this compared to $US1.1bn ($A1.7bn) the year previous.

Mark Hurd (pictured), chairman and chief executive of HP, said: “HP capped off a strong year by delivering another solid quarter led by strength in our services segment and disciplined expense management.”

He added: “Our global reach, broad portfolio, numerous cost initiatives and consistent execution differentiate HP in the current economic environment”.

Read the original article at www.printweek.com.

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