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Oracle Hungary revenue up 75%

The Hungarian unit of business software company Oracle saw its revenue from the
sale of applications increase 75% and revenue from consulting rise 25% in its financial year ended May 30, Oracle Hungary CEO Peter Fuzes announced on Tuesday. Fuzes said partnered companies accounted for more than half of Oracle's sales. Oracle remained the biggest seller of software for business databases, and also saw its market share in the applications segment expand, largely because of sales to big and medium-sized companies in the financial and telecommunications sectors. The public sector put off big projects during the year to cut costs. But, this year state institutions should spend more, Mr Fuzes said. Fuzes added that he hoped EU funds would find their way to SMEs in the course of the year, money they could spend on IT developments.