Turnover at the Newcastle-based accounting software giant increased to £560.3m, an increase of 3.8% on the previous year’s total of £539.8m.
However when fluctuations in exchange rates are taken into account, group turnover was restated at just 2% growth, and operating profit increased by 9%.
Sage chairman Michael Jackson was pleased with the results: ‘We have continued to deliver good earnings growth in difficult market and economic conditions.’
Jackson also commented on the completion of a number of acquisitions, including software companies Timberline and Grupo SP, which he said should have a positive effect on Sage’s figures in 2004.
The software company’s proposed dividend for the year has risen 10% to 1.65p.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements