SAP sticks to profit outlook

City A.M. Reporter
GERMAN business software firm SAP bucked the trend among rivals yesterday by keeping its 2013 profit forecast, buoyed by strong demand for its web-based software, though it warned volatile exchange rates could hit its reported results.

Shares in the company jumped over five per cent in early trading after it stuck by its forecast for a full-year operating profit of €5.85bn to €5.95bn at constant currencies, up 12-14 per cent from 2012.

SAP reported a five per cent rise in third-quarter operating profit, excluding special items, to €1.3bn, fuelled by its web-based software products.

Shares rose to end 4.8 per cent higher at €56.06.