Sage delivers growth but caution remains on uncertain outlook

Sage has revealed its customers remain concerned about the short-term prospects for the economy as the ongoing uncertainty over future growth continues to linger in the SME market. The software vendor revealed that it has not fared too badly in its latest set of fiscal year numbers for the period e

Sage has revealed its customers remain concerned about the short-term prospects for the economy as the ongoing uncertainty over future growth continues to linger in the SME market.

The software vendor revealed that it has not fared too badly in its latest set of fiscal year numbers for the period ended 30 September with revenue growth up by 4% and software and services turnover climbing by 3%.

The vendor added 261,000 new customers in the year and it kept renewal rates at 81%. It pointed out that there was a strong pipeline of product releases scheduled for 2012 to keep that momentum going.

But as it looked forward the vendor's chief executive Guy Berruyer said that it had to remain prudent as it looked out on potentially difficult conditions.

"As we look forward, there are clearly significant macro-economic concerns which may impact SMEs, particularly in the eurozone, and our customers are telling us through our Sage Business Index that they see the outlook remaining uncertain," he said.

"However, the strengths of our business position us well to deal with the ups and downs of the economic cycle. Given the current economic uncertainty, we will continue to manage the business prudently, whilst pursuing the significant longer term opportunities we have in our markets," he added.

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