SAP announces revenue results.

The company issued a profits warning in 1998, after profit growth fell short of 30-35% predictions. But it still posted total revenues of around £3.5bn. Company officials said the increase in revenue would be brought about through the Internet and consultancy revenues, and followed the release of its 1999 preliminary results. The official 1999 results will be released midway through the month and are expected to show strong fourth-quarter results. Sales will show an 18% increase to £308m from £2.61bn and a pre-tax profit increase of five per cent to £592m from £562m. Meanwhile, despite the negative business climate bought about by Y2K, SquareSum, the provider of the DREAM accountancy software, reported ‘impressive’ results showing a 59% increase in turnover to £2.2m and 64% increase in profit for the six months to 30 November 1999. Hyperion has announced financial results for its fiscal 2000 second quarter and six-month period ending December 31 1999. For the second quarter, revenues rose by eight per cent to $115.8m from $107.0 million for the same quarter last year.

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