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Denmark's Simcorp Q2 beats forecast, lowers 2014 revenue outlook
August 29, 2014 / 3:26 PM / 3 years ago

Denmark's Simcorp Q2 beats forecast, lowers 2014 revenue outlook

COPENHAGEN, Aug 29 (Reuters) - Danish software provider Simcorp reported on Friday better-than-expected second-quarter operating profit and revenue, but adjusted its revenue guidance lower for the full year.

Operating profit rose to 11.9 million euros ($16 million) from 11.3 million euros in the same quarter a year ago, beating an average forecast of 10.3 million euros in a Reuters poll of analysts.

Simcorp, which sells software and services to the financial sector, said it now expects 2014 revenue growth of 8 to 10 percent in local currencies and an operating profit margin of 24.5 percent in local currency terms.

It previously guided for 10 percent revenue growth and an operating profit margin of 24 percent.

1 US dollar = 0.7599 euro Reporting by Stine Jacobsen; editing by Sabina Zawadzki

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