Sage ups profits and revenues
Solid accounts from accountants...
Accountancy software specialist Sage increased turnover by 14 per cent and profits by 13 per cent for the financial year ended 30 September 2005.
Turnover was up to £776.6m, from £682.6m last year, and pre-tax profits were up from £181.1m last year to £205.4m this year.
The firm claimed organic growth of six per cent and said 2004's acquisitions of SP, Softline and Accpac contributed 17 per cent of revenues. Operating margin stayed at 27 per cent.
The UK provided £195.8m of turnover, £312m came from North America and £189.3m from mainland Europe. CRM was the fastest growing product category with nine per cent growth on last year.
Sage is switching to reporting results under International Financial Reporting Standards for the six months to 31 March 2006 - the group will therefore restate results, under the new rules, for 2005 early next year.
The company remains confident looking forward - chief executive Paul Walker said: "The start to 2006 has been encouraging and we therefore view 2006 with confidence."
More on the Sage website here.®