Sage Software has turned in year-end fiscal results that were slightly above analysts' expectations, due to strong sales in its home UK market and in France.
For the year ending 30 September, the accountancy software supplier saw revenues increase 12 per cent to #152.1 million, on pre-tax profits that rose 25 per cent to #37.6 million. It has recommended a final dividend of 1.93 pence, bringing the year?s total to 2.9 pence, an increase of 10 per cent on last year.
Sage?s figures were also bouyed by a first contribution from its German subsidiary, which it acquired this year, and Paul Walker, the firm?s chief executive said he expected more acquistions to follow to boost its presence in the US, Italy and the Netherlands.
European profits, which came mainly from Sage?s two French companies, Saari and Sybel, that have now been merged into one, increased 42 per cent to #11.8 million. US profits grew only eight per cent to #3.9 million, however, due to currency exchange rates and competitive conditions.
But, over the coming year, Sage hopes to profit from organisations needing to upgrade their software to cope with European Monetary Union and the Year 2000 problem. It also hopes to take advantage of the current hype surrounding the Internet and electronic commerce.
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