Accountancy software firm Sage reported pre-tax profits up by 37 per cent to u16.1 million on turnover which grew by 42 per cent to u71.8 million for the six months ended March 31 1996. Operating profits rose 45 per cent to u18.1 million.
Analysts expect Sage to reach pre-tax profits of about u30 million by the end of its financial year. According to David Goldman, chairman of Sage, the company will buy more companies within six months. He said: 'We are looking for Sage lookalikes but have no specific deal in mind.'
Last month Sage ditched its broadline distributors saying they were flexible on price and could not offer support to its Sterling line of products.
The Sage Group has made two senior appointments: Paul Stobart and Guy Letts. Stobart, formerly European chairman of Interbrand will join as director of business development and strategy. Letts, formerly with Logica, will be group research and development manager. David Errington has been promoted to UK director of R&D from R&D manager.
CEO Graeme Watt admits the trading climate is becoming a little more uncertain as he and CFO Graham Charlton reflect on the reseller's £1bn year
Security vendor appoints Infinigate as part of strategy to grow channel business
As the trade war between the US and China ramps up, Marian McHugh investigates what impact this will have on UK prices and how partners are adapting to higher costs
CRN quizzes Avaya CEO Jim Chirico on the firm's progress after exiting Chapter 11 earlier this year, and listing on the stock exchange