November 14, 2012 / 10:38 PM / in 5 years

Poland's Asseco posts lower 3rd-quarter profit

WARSAW, Nov 14 (Reuters) - Asseco Poland SA, Eastern Europe’s top software maker, reported a drop in third-quarter earnings, suffering from lower margins at its numerous European businesses, it said late on Wednesday.

The group, which has built up its position with a shopping spree in recent years, showed a bottom line of 82.9 million zlotys ($25.27 million) in the third quarter compared with 108 million zlotys a year earlier.

Analysts had expected the group to report a decline in net profit to 72 million zlotys.

Sales were at 1.33 billion zlotys, coming in a touch above market forecasts of 1.32 billion zlotys, helped mainly by Asseco’s Israeli unit, Formula. ($1 = 3.2808 Polish zlotys) (Reporting by Karolina Slowikowska; editing by Matthew Lewis)

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