The world's leading provider of business software, SAP, said Wednesday it expected sustained growth this year following a 3.0-percent rise in net profit in 2007.
Despite the euro's persistent strength against the dollar, SAP said its net profit had risen to 1.94 billion euros (2.86 billion dollars) in 2007, a gain of 3.0 percent from the year before.
Operating profit grew by 6.0 percent to 2.74 billion euros, the group added in a statement.
SAP, which is based in southwestern Walldorf, had already released 2007 sales figures, which showed an increase of 9.0 percent to 10.26 billion euros.
The German group said its acquisition last year of the French company Business Objects for 4.8 billion euros would trim another 180 million euros from its accounts this year.
But sales of software and licences, a key benchmark for the sector, were expected to jump by 24-27 percent, excluding the effects of foreign exchange rates.
The group's primary market is North America, and it has suffered from the euro's rise against the dollar.
SAP's statement quoted chief executive Henning Kagermann as saying that the purchase of Business Objects had given it a leading role in products designed to optimise business performance.
"This will help us further penetrate the fast-growing business user segment and will be another driver of growth as we move ahead," Kagermann said.
SAP plans to increase investment in its new Business ByDesign software destined for small and medium-sized enterprices.
In 2008, the group planned to pump 175-225 million euros into developing distribution channels for the product, compared with 125 million euros last year.
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