Feeds

Sage clears the quarter

Challenging and unchanged

  • alert
  • submit to reddit

Build a business case: developing custom apps

Small business and accountancy software provider Sage has hit targets for the quarter, but warned that trading remains tough.

Unaudited figures for the nine months to 30 June 2009 show the company hit management expectations for the period. Audited figures for the six months ended 31 March showed sales of £748.4m, up 17 per cent.

Sage said subscription revenues were growing strongly and cost cutting at the firm had been successful. Sales in the UK, mainland Europe and the rest of the world remain resilient while the US is making progress on restructuring. Sage remains confident that the medium-term margin targets in the US will be met.

The company cut debt from £558m on 31 March 2009 to £491m on 30 June 2009. It has committed facilities of £810m until 2011

Paul Walker, Sage's chief executive, said: "There has been no significant change in market conditions during the quarter ended 30 June 2009 and we are planning for markets to remain testing. However, our proven business model and large, geographically diverse, customer base give us confidence that we are well positioned for these conditions and the eventual market recovery."

The full statement is here. ®

Next gen security for virtualised datacentres

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
XBOX One will learn to play media from USB and DLNA sources
Hang on? Aren't those file formats you hardly ever see outside torrents?
Class war! Wikipedia's workers revolt again
Bourgeois paper-shufflers have 'suspended democracy', sniff unpaid proles
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.