Sage Group helped by weaker sterling
Fourth-quarter performance in line with expectations
Sage Group reported that the company had performed to expectation in the
December quarter of 2008.
Stronger subscription revenue offset lower software and software-related
services income, the software provider reported.
Sage’s result was helped by the weakening Sterling over the final months of
2008. But it also increased reported net debt to £649m as at 31 December 2008
compared with £541 million three months earlier.
Revenue growth in mainland Europe had slowed, but Sage’s UK business had held
up well in turbulent market conditions.