German software group SAP, which employs nearly 400 people in Dublin and Galway, has reported net profits of €1.1 billion for last year, almost double the 2002 figure.
Software revenues fell 6% compared with 2002 to €2.1 billion, but were up 1% when the effect of currency movements was stripped out. Total revenues dropped 5% to €7 billion.
SAP says it expects software revenues for 2004 to rise by 10%, based on the euro being worth around $1.25.
