TechnologySage: tech spending charges on

Sage: tech spending charges on

Interim result show growth in profits but a slump in Sage Healthcare Division.

SMEs are still spending on accounting software, Sage has said as it clocked a
pre-tax profit of £122.6m for the period to 31 March, up from £108.6m on the
previous year.

UK revenues grew 12% from £107.5m to £120.2m in comparison to the same six
months last year.

Paul Harrison, group finance director for Sage said: ‘We have a 5.5m SME
customer base and even though we are facing a touch economic market, SMEs still
need support’.

The results also reveal that Sage continues to grow but its Healthcare
Division had slumped, from £249m to £248.5m. Sage Healthcare makes up 11% of the
overall company.

In response to the launch of CODA2go the new force.com application released
by Coda this week, Harrison said: ‘They have no brand in the SME market.

‘We have a good relationship with business. If you get the support right the
customers will renew their contracts.’

Earnings per share were up 9% to £7.30.

Further reading:

Accounting
software packages: it’s a jungle out there

CODA2go
now launched with a view to tackling the SME market

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