SAP came under pressure on the German stock market yesterday amidst concern that the application supplier?s year-end figures, due on Friday, would be below analysts? expectations.
In afternoon electronic dealing, SAP?s preference shares were down 14.9 DM, the equivalent of 6 per cent, to 217 DM, while its common stock fell 6% to 213 DM.
Some analysts, including DG Bank, expected the company?s 1996 net earnings to rise to just under 500 million DM, up from 405 DM in the equivalent period last year. This would mean even slower growth than the 30% SAP predicted after its disappointing third quarter results.
But Trevor Soloman, SAP?s UK director of corporate communications, said: ?The share price has been affected by speculation, that?s all it is - pure speculation, but they?ll keep on marking us down until they know for sure.?
He also confirmed that Tin Leonard, SAP UK?s alliance programme manger, had left the company to go to JD Edwards as European alliances manager. He has been replaced by Charles Bennett, formerly SAP?s business development manager.
David Hughes-Saloman is now technical and marketing director. He was just a technical director before.
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