Sage Group boosted by software
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.STRONG sales of new accounting software packages helped Sage Group to lift taxable profits by a quarter to pounds 5.4m for the half year to 31 March on turnover up from pounds 14.5m to pounds 30m.
The results were also boosted by a pounds 447,000 operating profit from three acquisitions made in the first half at a total initial cost of pounds 5.1m.
The group's underlying business increased its contribution from pounds 4.3m to pounds 4.9m with repeat sales totalling pounds 9.5m. In addition, last year's results were depressed by a pounds 102,000 loss from activities that have since been discontinued.
Despite the recession, UK software sales rose by a fifth thanks to the success of new products. Profits from the UK shot up from pounds 2.9m to pounds 4.2m. Sage said Yorkshire Business Forms, acquired in December, made a satisfactory contribution.
There was a maiden pounds 553,000 operating profit on pounds 2.8m sales from Europe with CIEL, the Paris-based software company acquired last October, exceeding expectations. US operating profits halved to pounds 619,000 despite a jump in sales from pounds 6.4m to pounds 7.8m. The company was hit by the pounds 370,000 costs of a shake-up at Remote Control International, acquired last autumn.
Earnings per share jumped 22 per cent to 17.7p. The interim dividend is up 10 per cent at 3.32p. Sage shares dropped 16p to 603p.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments