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April 15, 2004

Sage predicts strong growth

Sage Group Plc strengthened hopes of a recovery in software spending when it forecast that pre-tax income for the six months to March 31 will show a 17% rise to 87m pounds ($154.8m), comfortably ahead of the 83m pounds ($147.7m) expected by stock market analysts.

By CBR Staff Writer

The accountancy and business software vendor to the SME sector expects revenue to come in on target at 332m pounds ($590.9m), 23% up on last year’s figure.

The strongest growth was in Europe where revenue is expected to rise 23% to 89m pounds ($158.4m) and operating margins are expected to improve to 23% from 21%. The real test of the company is in the US, and although the Newcastle, UK-based company faces strong competition from Intuit and Microsoft’s Great Plains operation, it expects revenue to rise 21% to 136m pounds ($242.1m), but the operating margin to be squeezed to 23% from 24%.

In its home UK market, it expects revenue to rise 7% to 91m pounds ($161.9m) with margins increasing to 40% from 38%.

This article is based on material originally published by ComputerWire

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