Sage profits shoot up
Acquisition-hungry Sage has posted a large increase in both its year-end pre-tax profits and turnover, thanks to strong performances from all its products across the globe.
Turnover increased by 29% to £687.6m, from £533.2m, while pre-tax profits grew by 20% to £181.1m.
The software giant added 903,000 customers through acquisitions in the last 12 months, which included the purchases of Softline, Grupo SP and ACCPAC. It achieved organic revenue growth of 6%.
Chairman Michael Jackson said that the group had been selling ‘successfully’ to SMEs – its key audience. And its new acquisitions had made ‘strong early contributions’ for the group.
‘We will continue to seek acquisition opportunities which strengthen our market position and meet our investment criteria,’ said Jackson.