Software are giant SAP saw revenue increase of 18 percent from this time last year, with increases totalling £3.2 billion.

The company pointed the success to increased cloud demand with the acquisition of cloud software company SuccessFactors fuelling profits and accounting for a 112 percent increase year-on-year.

SAP have said that they expect to reach targets of 20 billion Euros by 2015 due to increase demand for cloud software along with mobile and finance software.