Sage interim profits jump
Rest of world comes on stream
UK accounting software specialist Sage has posted decent profits for the six months ended 31 March 2004.
Interim profits before tax grew 17 per cent to £87m and turnover hit £332m, growth of 23 per cent. Sage shares rose slightly on the news. UK turnover was up seven per cent to £91m and mainland Europe contributed £89m, 23 per cent up on last time.
The company has changed the way it presents its accounts because of acquisitions made through the year. A new unit, called "rest of world", will include South African company Softline, bought in August 2003 and Asian-Pacific interests of US company ACCPAC, picked up in December. Sage also bought Spanish company Grupo SP in October 2003 - this contributed revenue of £12m.
The accounts summary is here. ®