WARSAW (Reuters) - Eastern Europe’s top software maker Asseco Poland ACPP.WA reported a 4 percent drop in 2011 net profit, weighed down by lower margins at subsidiaries and long-term contracts drawing to a close. But it was a smaller fall than analysts had expected.
The group, which is considering a Nasdaq listing, said late on Friday that its net was 397 million zlotys ($126.8 million), compared to a 9 percent drop to 378 million forecast in a Reuters poll of analysts.
Its fourth-quarter net profit was 106.5 million zlotys compared to 87 million expected by analysts.
Asseco is in the midst of a 250 million zloty ($79.2 million) hostile bid for local rival Sygnity COMW.WA.
($1 = 3.1566 Polish zlotys)
Reporting by Dagmara Leszkowicz, Editing by Jonathan Thatcher