Sage shares surge on Intuit results

Strong results from US rival accountancy software group Intuit have boosted
Newcastle-based Sage, sending its share up by more than 4% yesterday.

Intuit reported positive full-year results ahead of expectations with its
Quickbooks product range leading the way, where sales rose 14%.

The Intuit results indicated that demand for accounting software by smaller
companies in the US remains strong.

Intuit also boosted Sage’s outlook by saying it expected an acceleration of
revenue growth in the current financial year.

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