January 29, 2020 / 5:49 AM / 20 days ago

Software Q4 sales drop as licence sales, A&N unit drag

BERLIN, Jan 29 (Reuters) - Germany’s Software AG on Wednesday posted a 5% drop in fourth-quarter revenue to 255 million euros ($282.90 million) as license sales declined and revenues at the business software company’s A&N unit fell.

Operating profit at Germany’s oldest listed tech company fell 23% in the fourth quarter to 65.9 million euros, below a forecast posted on the company’s website of 71.6 million euros.

The Darmstadt-based firm reported a full-year operating margin of 29.2%, in line with its target.

$1 = 0.9014 euros Reporting by Riham Alkousaa Editing by Michelle Martin

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