BUSINESS

Business software maker SAP sees net profit more than double to €1.20 billion ($1.56 billlion)

01/25/2012 02:36 EST | Updated 03/25/2012 05:12 EDT
FRANKFURT - Business software maker SAP says net profit more than doubled in the fourth quarter to €1.20 billion ($1.56 billion).

Revenues rose 11 per cent to €4.50 billion from the same quarter a year earlier.

The company on Wednesday reported a 16 per cent increase in software sales, to €1.74 billion. That is a key figue for SAP because software sales mean more support service revenue down the road.

SAP AG makes computer programs that help businesses handle back-office functions such as personnel, as well as mobile and data-analysis software.