SAP predicts good things

NEWS SAP this morning predicted strong growth in the second half of the year that will see revenues rise 15 per cent year on year. The first half of 2002 remains challenging, however. The forecast was made as the German software maker released first quarter results. The company saw revenues rise from E1.52bn (£936m) to E1.66bn (£1.02bn) while profits were down from E109m (£67m) to E65m (£40m). In a statement, Henning Kagermann, co-chairman and CEO of SAP, said: "Against a very strong first quarter last year and despite tougher market conditions, our first quarter turned out largely as we expected. As the new year began, companies in the Americas approached new software investments cautiously."