SOFTWARE firm Sage Group yesterday reported a 14 per cent increase in full-year profits - and revealed it was still on the look-out for acquisitions.

The Newcastle company announced a pre-tax profit of £221.2m for the year to September 30, up from £193.6m last year.

The firm, which has made recent overseas acquisitions to help extend its range of services, also reported a seven per cent increase in year-on-year organic growth.

Sage, the only technology group in the FTSE 100 share index, has added 90 jobs to the 1,300-strong workforce at its Newcastle head office.

Paul Harrison, financial director, told The Northern Echo the group wanted to continue to expand.

This year, Sage has purchased US payment processing company Verus for £184m, and paid £20m for London-based Protx.

"These results are very positive in a number of areas, and have been very well received in London," Mr Harrison said.

"The growth has been particularly strong, and part and parcel of that has been the addition of 90 people to our Newcastle office, showing we are investing in the future of the North-East."

Mr Harrison said the group was always looking for ways to improve the services it offers.

He said: "As a result, we are always on the look-out for suitable acquisitions, and ways in which to expand into new territory, both in geographical and technological terms.

"There are opportunities around, but it is always hard to predict when those opportunities will bear fruit - but we will remain vigilant."