Oracle UK's profits have more than halved

This was "due to a number of factors including a reduction in the commission income in relation to the hardware and hardware support liens of the business," Oracle stated in a strategic report accompanying the results.

This top line slip contributed to a 25 per cent reduction in Big Red's profit before tax to £26.9m, and net profit shrank 54 per cent to £11.58m, as Oracle coughed up £14.7m in corporation tax compared to £5.93m in the prior fiscal year.