SAP returns to profit after three year slump

The world's leading maker of business software, SAP, posted its first rise in software licence sales in the first quarter for three years, as the global information technology sector starts to recover.

Revenues in the segment rose to €370m (€312.8m) from €352m (€297.6m), a year earlier.

The company said its first quarter figures are in line with its full-year targets, and that it continues to expect software revenues to increase by around 10% compared to last year.

The group said sales increased by 2% to €1.6bn (€1.35bn).

The company's operating profit before stock option and acquisition-related costs rose 9% to €332m (€280.6m).