AP reports good results

Software company SAP said that operating profit before expenses climbed to €316m from €201m a year ago.

This figure was far higher than had been forecast by analysts. Sales were up at €1.7bn up from €1.65bn in Q3 2001. This was also better than forecast. However, software licence sales were down at €435m from €447m but this was ahead of expectations.

The group turned around a slowdown in the United States and software licence sales rose in Q3 compared to Q2.

"The sales pipeline remains strong and the company expects that it will continue to gain market share", SAP said in a statement. "On the other hand, the overall political and economic environment is currently unpredictable and it is difficult to forecast revenues."