Accountancy software giant Sage announced a drop in net debt and improved
growth trends in its latest interim management statement released this morning.
Net debt fell to £280m at 30 June from £305m at 31 March. The results are
consistent with management expectations announced at the interim results on 5
Paul Walker, Sage’s outgoing CEO, said the economic environment continues to
be uncertain and the business was managing its “cost base prudently, whilst
investing to enhance our competitive position”.
He added that the company’s growth internationally would position it well for
Analysts expect the firm to report pre-tax profits of £332.6m for the year,
up from £307.5m the previous year,
In May this year, Sage announced in its H1 results that its Practice
Solutions product, aimed at UK accountants, grew 7% compared to the same period
a year ago. It also announced that operating profit had grown 3% to £44.9m
compared to the same period last year.
Does Darwin's theory apply to taxation? Colin ponders...
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
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
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs