Feeds

Sage clears the quarter

Challenging and unchanged

  • alert
  • submit to reddit

The essential guide to IT transformation

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
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
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.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.