Sage trading in line as it boosts cloud sales

City A.M. Reporter
SOFTWARE company Sage said yesterday it was confident of meeting its financial goals after overcoming weak markets in Europe to trade in line with forecasts.

The group, which supplies accountancy and business software to more than 6m small companies, said it had delivered a resilient performance in France and Spain despite the general weak market conditions across mainland Europe.

“We are encouraged by our performance in a trading environment which continues to vary across our markets,” chief executive Guy Berruyer said, of the period from April 1 to date.

“We are driving significant change through the business, which is delivering results, and we remain confident that we will deliver on our strategic and financial goals.”

Sage is trying to sell more support contracts and cloud services, to counter declining sales of its off-the-shelf packages.

Analysts expect the Newcastle-based company to deliver broadly flat profit for the year to the end of September, with the average prediction at around £357.6m.