ACCOUNTANCY software group Sage signalled a 16 per cent hike in half-year profits yesterday.
The Newcastle-based company gave investors a pleasant surprise, announcing pre-tax profits for the six months to March 31 would be about £101m - slightly higher than the £98m expected by the City.
Shares in Sage, the last technology company in the FTSE, rose about three per cent on the back of the trading statement.
Revenues increased by 17 per cent to £381m, after stripping out the impact of currency swings. Analysts believe nearly half this increase was achieved without accounting for its recent acquisitions.
Sage, which employs about 8,000 people worldwide including 1,850 staff in the UK, sells software and other services to small and medium-sized enterprises.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article