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Asseco Poland Q1 net falls 20 percent, less than expected
May 14, 2015 / 4:37 AM / 2 years ago

Asseco Poland Q1 net falls 20 percent, less than expected

WARSAW, May 14 (Reuters) - Eastern Europe’s No.1 software maker, Asseco Poland, booked a 20-percent net profit drop due to lower sales and margins on the group’s home market, it said on Thursday.

The group showed a bottom line of 78 million zlotys ($22 million), beating analysts expectations of a 38-percent decline to 60 million.

Overall sales rose 13 percent to 1.592 billion zlotys, coming in above market forecasts of 1.569 billion, boosted mainly by Israel’s Formula Systems.

Asseco added that its 2015 backlog stood at 4.95 billion zlotys after the first quarter. ($1 = 3.6006 zlotys) (Reporting by Wiktor Szary; Writing by Adrian Krajewski)

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