Oracle, the US software company which employs some 400 people in Ireland, yesterday reported increased turnover and profits for the first quarter of its financial year. The company declined to give any figures for its Irish operations. For the three months to the end of August, revenue increased to $1.34 billion (£894 million) from $1.05 billion for the same period in 1996, a rise of 30 per cent. Net income climbed 33 per cent to $150 million from $113 million.

"There is no sign of the Irish high-tech market running out of steam," said Mr Kevin Jones, Oracle's Irish manager.