TechnologyAccounting SoftwareSage FD bullish about future acquisitions

Sage FD bullish about future acquisitions

After posting another strong set of interim figures, driven on by customer loyalty and recent acquisitions, Sage's finance director is particurlarly bullish about future acquisitions.

Link: Profits grow as Sage posts strong interims

Finance director Paul Harrison told Accountancy Age that the accounting software provider is still looking to purchase more businesses. ‘Sage remains an acquisitive business. We will continue to look in new territories and also vertical markets,’ said Harrison.

The accounting software provider has seen pre-tax profits increase 17% to £86.7m for the half-year ended 31 March, from £74.3m a year ago.

Sage’s debt increased to £180m from £111m, mainly due to its acquisitions. However Harrison said its level of debt was ‘well under control’.

‘Cashflow in the company is strong, and our gearing is comfortable. We could increase our level of debt if we need to finance more acquisitions.’

Sage has added 146,000 new customers in the six-month period, in addition to the 903,000 gained from its acquired businesses, including Spanish Software company Grupo SP and Oregon-based Timberline.

Chairman Michael Jackson said: ‘[These results] demonstrate the value of our key asset, our large and growing customer base of over four million SMEs, to which we are successfully selling our extensive range of products.’

Related Articles

Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

2w Pegasus Software | Sponsored
Sage purchases Intacct in its largest ever acquisition

Accounting Software Sage purchases Intacct in its largest ever acquisition

5m Alia Shoaib, Reporter
5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
UK behind foreign markets in digital accounting, but gap is narrowing

Accounting Software UK behind foreign markets in digital accounting, but gap is narrowing

7m Alia Shoaib, Reporter
The rise of the progressive accountant

Accounting Software The rise of the progressive accountant

7m Emma Smith, Managing Editor
Making Tax Digital: Revolution or revolt?

Accounting Software Making Tax Digital: Revolution or revolt?

8m Emma Smith, Managing Editor
Making Tax Digital: Is HMRC’s recent system fault a cause for concern?

Accounting Software Making Tax Digital: Is HMRC’s recent system fault a cause for concern?

8m Emma Smith, Managing Editor
Four reasons why SME owners should switch to cloud accounting

Accounting Software Four reasons why SME owners should switch to cloud accounting

9m Emma Smith, Managing Editor