Sage ups profits and revenues
Print storySolid accounts from accountants...
Posted in Financial News, 30th November 2005 09:48 GMT
Join our expert panel in discussing application security
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.®
See what The Register's experts have to say on application security
The future of SaaS and IT infrastructure management
The mandate for application security
Extended Validation SSL Certificates
Avoiding 7 common mistakes of IT security compliance
CIO strategies for the retention and deletion of email
Win a Samsung C6625!
Is your cameraphone an oxymoron?
Windows 7, Bing and security: Mr Ballmer regrets
Sign up, sign up for The Register IT security newsletter