ACCOUNTING software firm Sage has its sights set on a profitable New Year after an encouraging start to its financial year.
The Newcastle company said turnover rose four per cent in the year to September 30, to £560.3m, during which pre-tax profits grew 12 per cent to £151m.
Chairman Michael Jackson said: "We have continued to deliver good earnings growth in difficult market and economic conditions.
"The start to the new financial year has been encouraging, and with significant earnings enhancement expected from our recent acquisitions, the board views 2004 with confidence."
The £49.1m acquisition of Grupo SP, of Spain, in October, and of Softline, of South Africa, last month in a deal worth £54.9m, added 400,000 customers to the group.
Sage said revenue from services had proved more resilient than software sales and it expected this part of the business to continue growing
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