BusinessCompany NewsSage profits up despite tough conditions

Sage profits up despite tough conditions

Accountancy software business Sage has announced a 12% increase in profits before tax for the year ended 30 September 2003.

Link: Sage buys US software group

Pre-tax profit for the Tyneside-based company was £151m on turnover of £560m, itself an increase of 4%. However most of this growth was achieved through acquisitions as market conditions around Europe remained challenging, according to the group.

In the UK sales grew 3% to £161m, margins improved 3% to 40% and operating profit rose 12% to £65m.

The story in the US was slightly better, with operating profit up 17% to around £61m.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor