Group Press Releases
The Sage Group plc Interim Management Statement
28 July 2010
Trading in-line with expectations
Results for the Group and each of our regions were consistent with management expectations at the time of the 2010 interim results announcement on 5 May 2010. The good performance we reported at the half year has continued and we have seen improving organic growth trends in our third quarter.
Whilst the macro-economic environment remains uncertain, we anticipate that our full year results will be in line with market expectations.
The Group`s cash generation remains strong and net debt fell to £280m at 30 June 2010, from £305m at 31 March 2010. The Group has a robust balance sheet, with £200m of its debt raised in the private placement market with maturities ranging from 2015 to 2017.
As announced on 16th July 2010, Guy Berruyer, currently CEO of Sage’s Mainland Europe & Asia operations, will succeed Paul Walker as Group Chief Executive with effect from 1 October 2010.
Paul Walker, Chief Executive, commented:
“The good performance we reported at the half year has continued and we are pleased to see improving organic growth trends in the third quarter. Our innovative products and the high quality of our customer support are driving the business forward. However, the economic environment remains uncertain and we continue to manage our cost base prudently, whilst investing to enhance our competitive position. Our strong balance sheet, healthy cash flow and large, international customer base positions us well for the future.”
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 6.2 million customers and 13,100 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.
The Sage Group plc +44 (0)191 2943068
Paul Walker, Chief Executive
Paul Harrison, Group Finance Director
Andrew Griffith, Investor Relations
Tulchan Communications +44 (0)20 7353 4200