SAP CFO sees no China recovery this year

Reuters News
Posted: Jul 18, 2013 9:11 AM
SAP CFO sees no China recovery this year

FRANKFURT (Reuters) - Germany's SAP AG <SAPG.DE> does not expect economic growth in China to pick up again before the end of the year, the business software maker's finance chief said.

"From my perspective we will not see a change for the rest of the year, but going into 2014 I think there are positive signs. That is one of the reasons why we have not stopped investing in Asia," Werner Brandt told analysts during a conference call on Thursday.

SAP earlier trimmed its sales outlook for this year, warning that a slowdown in China was prompting companies across Asia to put investments on hold.

(Reporting by Maria Sheahan and Natalia Drozdiak)