Profits rise 79% at US software giant’s Irish arm

An Irish subsidiary of US software giant Oracle last year recorded a 79% increase in pre-tax profits to $55m (€41m).

Accounts just filed by Oracle East Central Europe with the Companies’ Office show the Dublin-based company increased its turnover by 26%, from $169.7m to $214m, to the end of May last year.

Oracle, which produces and sells computer software for the Central European market, paid a dividend of $140m to its US parent last year.

The directors state in their report that they were “satisfied with the performance of the company during 2011”.

The numbers employed by Oracle, which is based at East Point Business Park in Dublin, remained at 64 last year, and consisted of 57 in sales staff and seven employed in administration.

According to the directors’ report, “it is the intention of the directors to continue to develop the current level of activities of the company”.

The figures show that Oracle’s operating profits last year increased by 82%, from $30.6m to $55.8m.

The accounts show that after the profits and dividend payout are taken into account, Oracle’s accumulated profits decreased from $178.9m to $87.1m.

Cash held by the firm last year reduced from $201.3m to $128m.

Oracle’s cost of sales last year totalled $79.3m compared to $63.9m in 2010, with the firm’s administrative expenses rising from $75.2m in 2010 to $79.2m last year.

A geographical breakdown of the company’s business shows that the vast majority of its business was done in the Commonwealth of Independent States, which includes Russia, Kazakhstan, Ukraine, Belarus, and Moldova, with $172m of the $214m in revenues recorded there last year.

The figures show that the Baltic States accounted for $24.3m in revenues, with $11.7m generated in Bulgaria and $5.3m recorded in Macedonia or Malta.

Oracle was founded in 1977 by Larry Ellison, who remains the corporation’s chief executive.

Globally, last year, Oracle increased its revenues by 32%, from $26.8bn to $35.6bn.


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