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Frankfurt - German software giant SAP said on Thursday it is sticking to its full-year forecasts for 2014 after profits rose slightly in the first quarter.
SAP said that net profit rose by 3.0% to €534m in the period from January to March, and underlying or operating profit was up 12% at €723 on a 3.0% increase in revenues to €3.698bn.
SAP publishes two sets of accounts, one according to international financial reporting standards (IFRS) and another according to national accounting standards or non-IFRS.
It provides forecasts based solely on non-IFRS data.
"Our outlook for the full-year 2014 remains unchanged," SAP said.
Operating profit was projected to come out at €5.8bn to €6.0bn, which would represent an increase of 6.0% to 9.0% from 2013, the software maker said.
