The Channel logo

News

By | Joe Fay 2nd December 2009 11:28

Sage strikes subdued note in near term forecast

Figures get boost from currency movements

Sage software issued a subdued forecast this morning, as it unveiled full year results which showed underlying revenues slipped 4 per cent in the year to September 30.

The accounting software firm turned in revenues of £1.44bn for the year, up 11 per cent on the year. Pretax profits were £267.4m, also up 11 per cent.

However, on an "underlying" basis, stripping out the effect of currency movements and of amortisation of intangibles, revenues were down 4 per cent on the year, though profits came in at £307.5m, a 2 per cent slip on the year.

The firm said subscription revenues were now 65 per cent of its revenues, and grew organically by 2 per cent. But software and related services revenues were down 16 per cent.

Sage said that it had seen conditions stabilise in the second half, with SMEs still prepared to invest money in value-adding business management products and services. However, it warned, it has yet to see a general recovery in its markets.

Sage's home market in the UK turned in revenues of £242.2m, down 2 per cent on the year. North America saw revenues slip 10 per cent to £576.4m. Mainland Europe was static at £520.5m, while the rest of the world grew 1 per cent on the year.

The UK and North America have arguably taken the biggest hit in the economic downturn. ®

alert Send corrections

Opinion

Trevor Pott

Why aren't you, personally, stopping the moronocalypse?
Star Trek Into Darkness

Chris Mellor

Federation fissiparousness to form co-ordinated divisions
iot_internet_of_things

Chris Mellor

EMC is ahead overall with HDS mounting an IoT catch-up

Features

Lego gandalf by https://www.flickr.com/photos/isherwoodchris/  CC 2.0 https://creativecommons.org/licenses/by-sa/2.0/ attribution sharealike
Why interconnectivity in the cloud is tougher than just stacking bricks
Handing over dollars picture via Shutterstock
Steve Ballmer. Pic:  Aanjhan Ranganathan
Nokia is the biggest write-off yet, but it wasn't the first
Confused computer keyboard
Last Christmas, I gave you my Cloud, the very next day you gave it away