Interim Management Statement

RNS Number : 0801A

Sage Group PLC

26 January 2011

 



The Sage Group plc Interim Management Statement

26 January 2011

Trading in-line with expectations

Trading for the period was consistent with management expectations at the time of the 2010 preliminary results announcement on 1 December 2010.

Business performance

Results for each of our regions were in-line with our expectations, with the improved revenue performance we saw in the second half of the year ended 30 September 2010 continuing into the first quarter of this financial year.

Financial position

Net debt at 31 December 2010 reduced to £187.0m from £219.8m at 30 September 2010, reflecting continued strong cash generation. The Group remains comfortably within its banking covenants with committed financing facilities in place until 2015 to 2017.

Outlook

Guy Berruyer, Chief Executive, commented:

"Our principal markets continued their gradual recovery in the quarter, and I am pleased that our results were in line with our expectations. In addition, the organisation changes announced in December have been implemented smoothly. This, together with our strong business model and geographically diverse customer base ensures we are well positioned to capitalise on the many growth opportunities we have within the business."

About The Sage Group plc

The Sage Group plc is a leading global supplier of business management software and related products and services, principally for small to medium-sized enterprises.  Formed in 1981, Sage was floated on the London Stock Exchange in 1989.  Sage has 6.3 million customers and 13,400 employees worldwide.  We operate in over 24 countries covering the UK, Europe, North America, South Africa, Australia, India and China. For further information please visit www.sage.com.

Enquiries:

The Sage Group plc [phone]

Guy Berruyer, Chief Executive
Paul Harrison, Group Finance Director
Andrew Griffith, Investor Relations

Tulchan Communications [phone]

David Shriver
Lucy Legh

 

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