Sage profits shoot up

Link: Sage upgrades its IT infrastructure

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.

Related reading

HMRC banknotes