Oracle NZ financials show drop in revenue from 2013

Cloud solutions provider Oracle New Zealand has released its latest annual financial report for the year ending 31 May 2014.

The report shows a profit of 35.3 million on revenue of 139.8 million.

The figures are a drop from the previous year, which saw a gross profit of 36.2 million from a revenue of 132 million.

Of the 139 million in revenue, revenue from sale of goods and rendering of services totalled 138.5 million. The 2013 figures show 130.4 million in revenue from sale of goods and rendering of services.

The report states Oracle's current assets total 108.2 million, a significant increase from the 2013 figures of 95.8 million in total current assets. However, the company reported 87.2 million in total current liabilities compared to 74.8 million in total current liabilities the year before.

Oracle New Zealand is ultimately wholly owned by Oracle Corporation. Oracle New Zealand shelled out 94.2 million to third parties, up from 82.1 million in 2013.