NEWS Sage, the UK's biggest quoted tech firm, has announced its year end results showing healthy growth in line with predictions.
The results for the year ended 30 September showed a pre-tax profit of £151m for the company – up 12 per cent on the year before, as predicted by Sage and broadly as expected by the market. On home turf, the results show Sage's UK revenue grew by three per cent to reach £161m, which the software maker says is largely due to more new customers turning to Sage, as well as some internal organisational restructuring and boosting business from existing clients.
The outlook was less promising in the firm's Europe business – with what the company called "market conditions which remained challenging" – as despite a growth in revenue to £135m, operating profit actually fell by five per cent to £30m.
Sage's real success story, however, is across the pond, where the company's CRM business is making a splash. It saw a substantial 13 per cent growth in revenues over the year, while increased margins helped to ramp up revenues across Sage's US arm to a satisfying £264m – up two per cent on the last financial year's effort.
Sage remains best known for its accounting software.
