SAP disappoints with upgrade
SAP, the world’s biggest maker of business software, raised its 2010 sales forecast by less than the market had hoped yesterday given a rebound in global technology spending. The German company raised its 2010 growth forecast for non-IFRS key software and software-related service revenue (SSRS) to a range of 9-11 per cent from the previous 4-8 per cent.
That includes contributions from US database company Sybase, which SAP acquired in May, of 6-8 percentage points. It stuck to its full-year target for a non-IFRS operating margin of 30-31 per cent. SAP – whose more than 100,000 customers include McDonald’s and Apple – bills itself as the world’s leading provider of software to help manage supply chains and customer relations.