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Microsoft Australia: Hiring Spree

Time: 03:13 EST/08:13 GMT | News Source: Australian IT | Posted By: Andre Da Costa

MICROSOFT Australia went on a hiring spree in its 2006 financial year as sales lifted almost 9 per cent to $314.6 million. The local subsidiary also logged an increase in net income from $25.2 million in 2005 to $26.97 million at June 30, 2006. But Microsoft Australia is yet to recover from a profit dip that occurred between 2004 and 2005. In 2004 the company's net profit was $40.5 million, but that slumped more than 36 per cent to $25.8 million during the year to June 30, 2005. At the time, then Microsoft Australia boss Steve Vamos attributed the profit decline to increased investment in staff and product promotion that was aimed at driving sales growth.

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