Sage acquires profits

Aquisitions bring in cash

For Sale sign detail

Accounts specialist Sage is likely to beat expectations for the year ended 30 September, although it won't post full results until 1 December.

Sage said profits were now likely to be around £180m against the £177m predicted by analysts, according to Reuters. Group revenues grew by 29 per cent to £688m. Sales grew fastest in the US - up 30 per cent. But removing the impact of acquisitions shows a less cheery picture - organic growth revenue growth was just six per cent.

In the UK revenues grew by nine per cent to £186m and operating margin was steady at 39 per cent. Mainland Europe saw sales increase by 22 per cent to £170m. Excluding acquisitions mainland Europe saw revenue grow by five per cent.

Earlier this year Sage bought ACCPAC, the accounts software arm of CA, for $110m. In 2003 it bought Softline and Timberline.

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