Oracle NZ liabilities nearly double cash on hand

Oracle Corporation, headquartered in California, owns the Ireland-based Oracle CAPAC Services UC, which has a $75m loan from Oracle NZ. (Image: Getty)

Ben Moore

Fri, 01 Nov 2024

Oracle New Zealand posted $3.2 million in profit in its financial report for the year ending May 31, 2024, but noted liabilities that may require support from its US-based parent.The posted net profit was less than half of the $7.65m from the prior financial year, even as revenue grew from $171.6m to $177.3m year-on-year.This was largely due to the company paying $2.1m in taxes for the year, compared to receiving a tax credit of $3m the year before.Oracle NZ ended the year with cash and cash equivalents of $21.6m, against liabili...

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