SAP posts impressive profits
They're on a winning streak...
SAP has bucked the tech trend and posted a 78 per cent increase in its second quarter profits.
Europe's largest software company today announced its net income, for its Q2 up to 30 June, rose E206m (£127m) at E0.65 (£0.40) per share, compared with E116m (£71m) at E0.37 (£0.22) per share for the same period last year.
In a statement the German-based company said it expects revenue to grow by more than 20 per cent for the full year.
Analysts believe the company has benefited from its large customer base, its established name in the market place and the increased acceptance of its mySAP.com ebusiness software.
In Frankfurt shares rose nine per cent on the news up to E155.5 (£95.7), which means SAP stock has climbed 33 per cent since the beginning of the year.