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Home / Business

Microsoft NZ lifts profit 15 per cent to $14 million

BusinessDesk
11 Dec, 2017 12:53 AM2 mins to read

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The local arm of the world's biggest software developer boosted sales of its consulting services. Photo / Getty

The local arm of the world's biggest software developer boosted sales of its consulting services. Photo / Getty

Microsoft New Zealand lifted annual profit 15 per cent as the local arm of the world's biggest software developer boosted sales of its consulting services, while its smaller rival Oracle New Zealand sank into the red after booking an impairment charge.

Auckland-based Microsoft NZ reported a profit of $14 million in the 12 months ended June 30 compared to $12.2m a year earlier, financial statements lodged with the Companies Office show.

The software developer lifted revenue 7.6 per cent to $115.2m as consulting sales jumped 42 per cent to $36.1m, offsetting a 3.6 per cent decline in related party commission revenue to $74.4m. That also outpaced a 27 per cent increase in consulting expenses to $5.6m.

Despite the increase in external revenue and profitability, Microsoft didn't declare a dividend to its parent group, the first time since the 2008 financial year.

A spokesman for Microsoft said the company declined to comment, however, group accounts show the Seattle, Washington-based company's consulting and product support service revenue slipped 0.9 per cent to US$5.56 billion. Those services fall under the enterprise umbrella, which helps customers develop and deploy Microsoft IT systems.

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Microsoft is now challenging New Zealand's incumbent IT services firms such as Datacom and Spark New Zealand, with research house IDC's recent New Zealand IT Services Ecosystem Study 2017 finding Microsoft the third-most cited top-3 IT services providers.

Oracle New Zealand posted a loss of $16.2m in the 12 months ended May 31, compared to a profit of $495,000 a year earlier, with revenue falling 4.5 per cent to $140.7m.

That included a $17.5m impairment charge to goodwill, which was valued at $16.6m after the writedown.

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About $32.8m of that goodwill arose from Oracle's 2010 Sun Microsystem acquisition and a further $1.2m came from its purchase of eServGlobal.

Like Microsoft, Auckland-based Oracle NZ didn't make a dividend payment to its parent in the 2017 financial year.

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