Software giant Sage will 'deliver on goals'

Software giant Sage said it remains confident it will deliver its goals in an upbeat interim management statement

Sage HQ at Newcastle Great Park
Sage HQ at Newcastle Great Park

Software giant Sage said it remains confident it will deliver its goals in an upbeat interim management statement.

The company, which is based in Great Park, Newcastle, released its statement for the period from April 1 until now, saying trading remains in-line with expectations at the time of the interim results announcement on May 8.

Confident it will deliver its strategic and financial goals, the firm said good performance of its UK and Ireland operations continued in the third quarter, and businesses in mainland Europe also delivered “resilient performances” in weak market conditions, especially in France and Spain.

Main trends in the Americas have also continued and North American business maintained good performance, as customers migrate to premium support services and momentum with the Sage ERP X3 product remaining key features. In the AAMEA region – Africa, Australia, Middle East and Asia – good growth was reported, with businesses in South Africa and broader African markets performing well.

The group said its operating cash generation remains strong and during the period it paid an ordinary dividend to shareholders of £42.8m and a special dividend of £198.7m.

In June the firm raised $400m (£260m) through a US Private Placement loan as part of plans to refinance debt facilities, after working with HSBC and JP Morgan to issue the bonds to the US market.

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