PracticePeople In PracticeSage records 50% rise in profits

Sage records 50% rise in profits

Sage, the accountancy and payroll software giant, has reported pre-tax profits up by 52% for the six months to 31 March this year.

The figures come to £54m compared to £35.5m for the same six months last year.Turnover also saw marked increases between the two periods with a 53% leap from £132.5m to £202.5m.

Company chairman Michael Jackson, said: ‘Our well defined e-business products and services targeted at our 2.3 million customer base coupled with recent acquisistions will help us build further on our strong existing business and the board remains confident about prospects for the full year.’

The last six months has been a busy one for Sage with five acquisitions completed. Best Software, supplying asset management solutions was bought in the USA while Ubiquis SA of France, supplying web trading software, was acquired in France.

Swiss accounting software supplier Sesam was also bought while two British outfits, Hartley International and CSM were also added to the stable.

Sage’s strategy is firmly linked with the internet with the company believing firmly that its customers are looking for safe and secure ways of completing transactions electronically.

Sage buys CSM as ‘final piece of jigsaw’

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