SAP has turned in stronger than expected expected third quarter figures and has brought forward its planned flotation on Nasdaq or the New York Stock Exchange to the third quarter of next year.
The application supplier's shares rose Dm20.20 to close at DM500 after it announced revenue growth of 82 per cent to $780 million, on a profits increase of 64 per cent to $140 million.
Pre-tax profits for the three quarters rose 64 per cent to $465 million, on profits up 61 per cent to $2.1 billion.
However, analysts were concerned that costs were higher than expected. Dietmar Hopp, SAP's chief executive, explained that, while the company expected fourth quarter sales growth to increase, turnover for the year would increase by 50 per cent, if currency exchange rates stayed favourable.
Hopp also said that SAP planned to introduce a scheme dubbed 'Leverage your Company's IQ' to try and end the "lethargy" that was slowing the take-up of technology in medium-sized German companies.
The supplier has promised $2.8 million to sponsor a competition aimed at this sector and will provide the 10 winners with free licences of its its R/3 applications, along with free implementation.
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