Member Article

Sage still predicts growth

Accountancy software firm the Sage Group expects to enjoy ongoing growth in its latest results, the firm said yesterday.

Newcastle-based Sage, which sells software to 6.3m small and medium-sized businesses, also says it wants to refocus investor attention on its future prospects after a damaging court battle with US rival Oracle.

The company said yesterday it will reorganise its business into three distinct regions following the news that CEO for northern Europe, Paul Stobart, will leave the firm.

Its half-year results are expected to continue the positive trend seen in its first-quarter, however.

The firm said a recovery in spending by small businesses continued this year after it returned to revenue growth for the first time since 2007 in the final quarter of 2010.

Álvaro Ramírez, chief executive of the company’s southern Europe division, will reportedly assume responsibility for the whole of Europe with immediate effect.

The group’s interim results for the six months ending 31 March will be reported under the new structure on 4 May.

This was posted in Bdaily's Members' News section by Ruth Mitchell .