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Healthy financials down to key acquisitions and strong channel

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Accountancy software vendor, Sage, has announced increased turnover and profit for the year ending 30 September. Turnover was up 26 per cent to £191.5 million, compared with £152.1 million for the previous year. Profit before tax stood at £47.6 million, up 27 per cent on last year’s figure of £37.6 million. Sage’s year was marked by a number of acquisitions and sales, which the group’s chairman, Michael Jackson, highlighted as key elements of a strong financial performance. Direct sales divisions, Multisoft and Dataform were sold, pulling in an exceptional profit of £1.2 million, while in the US, Sage bought State of the Art, which has been merged into Sage Software. Software sales to new sites generated £91.2 million during the year, up from £64.4 million in 1997. Jackson said the company remained committed to its channel and was looking to strengthen the links with its resellers. "Our research into the UK market has shown us that the best way to stimulate sales in the reseller channel is not simply to sell our products to resellers but to work in partnership with them, providing them with the tools they need to develop their businesses." Jackson also said the millennium bug had generated a significant increase in sales as had preparation for the Single European Currency, which comes into being in 22 days’ time.®

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