WARSAW May 14 Eastern Europe's No.1 software
maker Asseco Poland surprised with 5.3 percent net
profit growth in the first quarter, thanks to revenue growth at
its Israeli business, it said on Thursday.
The company posted a net profit of 97 million zlotys ($32
million), against an average forecast from analysts polled by
Reuters of 82 million, due to declining revenue from high-margin
Revenue grew 8 percent to 1.45 billion zlotys, a notch above
market forecasts, mainly due to a 14 percent increase in sales
by its Israeli group Formula Systems to 686 million.
The company said it had a backlog of 4.62 billion zlotys
worth of contracts for this year.
($1 = 3.0557 Polish Zlotys)
(Reporting by Adrian Krajewski; Editing by David Holmes)