Sage mindful of European woes on clients
Posted by Jared v.D. W 24 January, 2012
LONDON (Reuters) – British accountancy software maker Sage stated it was watching the economic situation in Europe and the impact a downturn would have on its small and medium clients, even though it mentioned trading was nonetheless on track.
The firm, which sells software program to much more than 6 million businesses, stated trading considering that the begin of its monetary year on October1 2011 was "satisfactory" and in line with its expectations.
Chief Executive Guy Berruyer said on Tuesday that the macro-economic environment remained challenging for Sage's customers, but it was able to cope with the ups and downs of the economic cycle.
"We are confident that the business priorities, on which we are focused to drive growth, will bear fruit as the year progresses but we remain watchful of the European atmosphere in certain," he stated.
The group mentioned it had received 200 million pounds (跘 million) from the disposal of Sage Computer software Healthcare to Vista Equity Partners, and it had net cash of 149.8 million pounds at December 31 against debt of 24.9 million at September 30.
(ũ = .6412 British pounds)
(Reporting by Paul Sandle)
