Despite analysts? jitters earlier in the week that sent SAP?s stock plummeting by 6 per cent to 217 DM, the application supplier?s year end figures were ahead of expectations.
Some analysts, including DG Bank, had feared the company?s 1996 net earnings would only rise to just under 500 million DM, up from 405 DM in the equivalent period last year.
That would have meant even slower growth than the 30 per cent SAP predicted after its disappointing third quarter results.
But those fears were unfounded as the company turned in fourth quarter turnover up 49 per cent to 1,350 million DM, on pre-tax profits up 58 per cent to 457 million DM.
For the year ending 31 December, 1996, the firm?s sales rose 38 per cent to 3.7 billion DM, on pre-tax profits that increased 43% to 966 million DM. Net sales grew 40 per cent to 567 million DM.
Next year, however, SAP warned that it expected revenue growth to be slower at between 25-30%.
Trevor Soloman, SAP?s director of corporate communications, said: ?I?m very pleased with the results because in the third quarter, people said it was the end of SAP. We said we?re weren?t losing business, we were just being affected by long sales cycles and that?s been proved right. Per capita sales also improved from 419,000 DM to 456,000 DM, which is very important and shows that the business is healthy.?
He added that UK year-end sales increased from #28.3 million last time to $37.2 million this, but was unable to supply profit figures.
Non-German business now makes up 75 per cent of SAP?s worldwide revenues compared with 69 per cent last year.
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