July 18, 2019 / 5:13 AM / a month ago

SAP says big margin gains to wait till 2020

FRANKFURT, July 19 (Reuters) - SAP told investors they can expect a major improvement in margins only next year as the German business software group reported a 21% decline in second-quarter operating profit on Thursday, weighed down by one-off costs.

SAP nonetheless reiterated its forward guidance as CEO Bill McDermott expressed his "absolute commitment" to meeting a strategic goal of expanding margins by 5 percentage points through 2023. (Reporting by Douglas Busvine Editing by Michelle Martin)

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