SAP said on Friday that it expected profits for the first half of 1998 to be up by only 40 per cent, which disappointed analysts after a 72 per cent jump in the first quarter.
The software house, which reports its figures on 20 July, said revenue would be up by around 60 per cent on the same period in 1997.
Analysts had expected margins and profits to be higher, particularly after the very successful first quarter. SAP blamed the high cost of hiring more consultants for its lower than expected growth and said it still expected 30-35 per cent profits increase for the full year.
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