WARSAW, March 22 Central Europe's largest
software producer, Asseco Poland, posted an unexpected
6-percent fall in its 2013 operating profit, the group said late
on Friday, as a rise in costs hurt profitability.
Profit came in at 610.5 million zlotys ($200.3 million),
compared with the 658.5 million expected by analysts.
The group's revenue came in 7 percent higher at 5.90 billion
zlotys, in line with analysts' forecasts.
Full-year net profit was 393.4 million zlotys, while the
bottom line was 131.5 million in the fourth quarter alone.
Analysts had expected 88 million for the quarter, but their
estimates did not include one-off items.
The largest of these came from Asseco's Israeli unit Formula
Systems, which booked a $57.1 million revaluation gain
after Formula's stake in its subsidiary Sapiens went below 50
($1 = 3.0475 Polish Zlotys)
(Reporting by Anna Wlodarczak-Semczuk and Marcin Goettig;
Editing by Mark Potter)