Sage, the commercial software program for payroll and accounting in over six million small businesses, has posted a 4% increase in adjusted pre-tax profits of £356 million ($574 million) for the year to the end of September.
Headquartered in Newcastle-upon-Tyne, the British PLC also has offices in Paris, California and Richmond, Canada and employs over 13,000 staff worldwide. Reported and underlying growth has been steady since Frenchman Guy Berruyer took over as CEO in 2010.
Berruyer said in a statement: "We delivered a solid performance in the
context of a macro-economic environment which remained difficult in most
of our markets. We achieved strong growth in recurring revenue and
focused on disciplined resource allocation, protecting margins at the
same time as investing for growth. We are committed to driving strategic
change and I am pleased with the momentum we have established with our
growth initiatives."
Per StockMarketWire.com:
- Organic revenue growth of 3% in H2 compared to 2% in H1 demonstrates improved momentum, particularly in North America
- EBITA margin maintained at 27% (2011: 27%), reflects ability to protect margins in challenging markets whilst investing for growth
- Underlying pre-tax profit of £356.3m (2011: £343.5m), an increase of 4% over the year
Berruyer continued: "A feature of the year has been the variable trading performance by geography. Europe's performance reflected good growth by the UK and Germany, offset by the impact of weaker markets in France and Spain. North America delivered the anticipated improvement in the second half of the year while AAMEA continued to deliver very strong growth.
"As we look forward, the global macro-economic outlook remains uncertain and we are watchful of the environment in Europe, particularly in France. We are making good progress with our strategy for accelerating growth and remain confident we will continue to deliver on our strategic and financial goals.
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