Software major SAP reports a 7 per cent rise in operating profits,

Europe’s largest software company, SAP on Tuesday reported a 7 percent rise in operating profits, driven both by year-end software license renewals and customers converting to newer cloud-based software.
Fourth-quarter operating profit, excluding special items, rose to 2.28 billion euros ($2.47 billion) from 2.13 billion euros in the same period a year earlier.
SAP said its results were helped by renewals from existing customers of higher-margin, licensed software plus faster growing, albe