SAP CFO predicts return to double digit growth
SAP CFO has claimed the financial software business will return to double digit growth soon, despite a recent $5.8bn (£3.63bn) acquisition
SAP CFO Werner Brandt said the business software company would return to
double digit percentage growth soon without resorting to acquisitions.
He believes the business would return to a net cash position soon, the daily
financial paper Boersen Zeitung reported.
Brandt made the comments weeks after SAP posted half year results showing a
30% fall in cash flow, compared with the same period last year. The results were
posted after SAP acquired smaller rival Sybase for circa $5.8bn (£3.63bn).
He said: “Due to our cashflow I expect that we will report a return to a net
cash position in the near future,”
Reuters
reported.
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