Interim Management Statement

RNS Number : 0962G

Sage Group PLC

26 January 2010

 



The Sage Group plc Interim Management Statement 

26 January 2010

The Sage Group plc ("Sage"), a leading global supplier of business management software solutions for small and medium-sized enterprises ("SMEs"), is releasing its interim management statement on its unaudited results for the three months to 31 December 2009.

Trading in-line with expectations

Trading for the period was consistent with management expectations at the time of the 2009 preliminary results announcement on 2 December 2009. 

Business performance

Results for each of our regions were in-line with our expectations, with subscription revenue growth continuing to offset subdued markets for software and software-related services.

Financial position

Net debt at 31 December 2009 reduced to £392m from £439m at 30 September 2009, reflecting continued strong cash generation. The Group remains comfortably within its banking covenants with committed financing facilities in place until 2011.

Outlook

Paul Walker, Chief Executive, commented:  

"We continue to navigate successfully the challenging market conditions through our focus on high quality customer service. We have seen no change to the environment over the period and our first quarter results were in-line with our expectations. Our proven business model and the loyalty of our large, geographically diverse, customer base give us confidence that we are well positioned for these conditions and the eventual market recovery."

Enquiries:

The Sage Group plc   [phone]	Tulchan Communications   [phone]
Paul Walker, Chief Executive	David Shriver
Paul Harrison, Group Finance Director	Stephen Malthouse
Andrew Griffith, Investor Relations	Lucy Legh

Notes to editors:

The Sage Group plc is a leading global supplier of business management software and services to 6.1 million small and medium-sized enterprises in over 24 countries. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and now employs over 13,400 people worldwide.

Market consensus of analyst research notes published on or after 2 December 2009 for the year to 30 September 2010 is as follows: Revenues £1,413m, EBITA £346m and PBT (pre-amortisation) £336m.

All financial information is based on unaudited management accounts. Certain statements made in this interim management statement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward-looking statements.

www.investors.sage.com

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