Accountancy software firm Sage reported a sparkling set of results with a 34 per cent increase in pre-tax profits to #30 million for the year ended 30 September. Turnover rose 33 per cent to #136 million.
The solid growth marked the eleventh consecutive year of profit improvement, which occurred despite #1.2 million of exceptional costs related to rationalisation costs in France.
The company is still talking about buying companies in Germany and the US. Chairman David Goldman hoped to make an acquisition in the coming financial year.
Operating margins rose to 27 per cent. Revenue from sales to its existing customers grew 38 per cent to #66 million and sales to new customers rose 30 per cent to #58.6 million.
Sage failed to bolster its UK position further after attempts to acquire rival Pegasus were rejected earlier this year.
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