By Reuters Staff
2 Min Read
BERLIN, Jan 27 (Reuters) - Germany’s Software AG on Wednesday reported declines in fourth-quarter revenue and profit, but said its business transformation was on track as the share of its recurring business grew.
Fourth-quarter revenue declined by 2% at constant currency at the database and middleware group, while operating profit fell by 26%.
Under CEO Sanjay Brahmawar, Darmstadt-based Software AG is looking to increase the share of subscription-based revenues, which increased last year to 85% of the total from 69% - already hitting the company’s 2023 target.
Companies making the transition to providing such software as a service typically experience a temporary squeeze in profitability as up-front licence fees drop out of the equation and are replaced by payments spread out over time.
London-based shopping centre operator Hammerson Plc said on Tuesday it received less than half of the rents due for the first quarter as stricter COVID-19 restrictions aggravate conditions in Britain's high streets and rest of Europe.
China’s most-indebted property developer is scrambling as officials push an aggressive cleanup of the bubble-prone sector. The ongoing pain of $25 billion Evergrande, with businesses spanning theme parks to electric vehicles, is a vivid measure of how far President Xi Jinping.
December new home prices up 3.8% y/y vs 4.0% in November 42 out of 70 cities reported higher prices, vs 36 in November (Adds analysts’ quotes, forecast)
BEIJING, Jan 15 (Reuters) - China’s new homes prices grew moderately in December, official data showed on Friday, as government measures aimed at cooling the property market took their toll.
Average new home prices in 70 major cities rose 0.1% month-on-month in December, according to Reuters calculations of data from the National Bureau of Statistics. The pace of growth was unchanged from November.
New home prices rose 3.8% in December versus a year earlier, slowing slightly from a 4.0% increase in November.
Britain's third-biggest homebuilder Taylor Wimpey on Thursday estimated annual operating profit in line with market expectations as demand rebounded towards the end of last year, and said it expects to hand out a final dividend for 2020.