Feeds

Sage expects to fall into line after improved Q3 growth

Biz software biz buzzes

Secure remote control for conventional and virtual desktops

UK-based software maker Sage reported this morning “improving organic growth trends” in its third quarter, and said that its full-year results would be in line with market expectations.

The company’s CEO Paul Walker said Sage’s second half of the year looked set to follow on from the good performance it had put in during its first two quarters.

"However, the economic environment remains uncertain and we continue to manage our cost base prudently, whilst investing to enhance our competitive position," Walker said.

"Our strong balance sheet, healthy cash flow and large, international customer base, positions us well for the future."

Walker will be replaced by the firm’s mainland Europe and Asia ops boss Guy Berruyer on 1 October this year.

The company said its cash generation remained strong and net debt fell to £280m as of 30 June 2010. It had stood at £305m at the end of March.

Meanwhile, rumours surfaced yesterday that claimed tech giant Hitachi could be eyeing up Newcastle-based Sage as a possible takeover candidate.

Analysts speculated about which IT services biz Hitachi was looking to buy to bolster its information and communications system business, according to Reuters. Sage was mentioned among 10 possible acquisition targets.

Shares in Sage are currently trading down 1.65 per cent at 244.4p on the London Stock Exchange. ®

The essential guide to IT transformation

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
China: You, Microsoft. Office-Windows 'compatibility'. You have 20 days to explain
Told to cough up more details as antitrust probe goes deeper
Linux turns 23 and Linus Torvalds celebrates as only he can
No, not with swearing, but by controlling the release cycle
Scratched PC-dispatch patch patched, hatched in batch rematch
Windows security update fixed after triggering blue screens (and screams) of death
This is how I set about making a fortune with my own startup
Would you leave your well-paid job to chase your dream?
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.