NORTH-EAST based software firm Sage reiterated its expectations for its current financial year, continuing to predict at least 6 per cent organic revenue growth for the full year, as it saw organic revenue up 6.6 per cent in its first nine months.

The business software company, which employs more than 1,000 people at its Newcastle headquarters, said in the third quarter to end-June it saw organic revenue growth of 7.5 per cent. Sage said growth was flattered by a relatively weak comparative third quarter in the previous year.

Sage said that exchange rate headwinds continued to be a feature in its third quarter due to the strength of sterling against other currencies including the euro and Brazilian real.

"The business performance in the quarter showed continued momentum in recurring revenue growth and overall the performance was encouraging, with the revenue growth rates flattered by a weaker third quarter last year," said Chief Financial Officer Steve Hare in a statement.

"As we continue to transition the business towards higher-quality revenue growth, through Sage's Customer for Life strategy, we anticipate that some quarters will be stronger than others, and we are committed to sustainable, profitable growth generating consistent operating margins, yielding strong free cash flow and progressive dividends," Mr Hare added.

Earlier this month Sage launched an apprentice drive. The firm wants more than 60 youngsters for roles across areas such as finance, sales, customer service and administration. The recruits will join in September, with the majority based at its North-East base.

The company serves more than six million firms worldwide, offering management software and services.

Who are Sage?:

Founded by David Goldman who wanted to automate the print estimating and basic accounting process in his own business. He

worked with a team of Newcastle University students to develop software to manage this more efficiently.

He realised that other companies could also benefit from this and formed Sage in 1981 to begin selling the software.

As desktop PCs became widespread, so the Sage range grew and our business went from strength to strength.

The firm floated on the London Stock Exchange in 1989 and in 1999 we entered the FTSE 100 where it still remains.

Sage is the only software company in the FTSE 100.