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April 23, 1997updated 05 Sep 2016 12:58pm

STRONG DOLLAR & INTERNATIONAL SALES SEND SAP AG PROFITS UP

By CBR Staff Writer

The recent rise of the dollar to a 37 month high against the German mark has added around $32m to SAP AG’s first quarter revenues, a company spokesman said. Not that the Germany’s biggest software supplier needed any help from the currency markets, its sales for the quarter have risen 49% to $601m, producing pre-tax profits up 54% to $105m. But the board has refused to get carried away and it is sticking by its original predictions for the year, issued in March (CI No 3,128). Sales for the 12 months will rise by a more modest 25-30%, it said. The markets reacted positively to the results, which the company attributed to several new sales contracts in the US, South Africa, India and France.

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