Sage on track to meet 2015 revenue target as it trades in line

22nd Jan 2014 07:03

- Growth across all regions- Trading in line with expectations- Firm on track to meet 2015 revenue targetSoftware company Sage Group said it is trading in line with expectations with growth across all regions.The firm expects to meet a target of a 6% increase in revenue in 2015 following impressive results in the period from October 1st to date, according to a trading update on Wednesday.Sage achieved a strong performance in the UK, Europe and Ireland, in part reflecting supportive changes in legislation. Mainland Europe improved despite tough market conditions on IT projects in France and Spain.The Americas maintained the growth reported in 2013 while in North America, the migration of customers to premium support and the traction achieved by software Sage ERP X3 drove results.Businesses in Africa and South Africa also delivered a good performance.Since the year-end, a further 5.7m shares have been repurchased for a consideration of £19.1m. Net debt at December 31st was £381.8m, down from £384.3m at September 30th."Through continued focus on our strategic cornerstones, we remain on course to deliver on our 6% organic revenue growth target in 2015, and anticipate making further progress during the year ahead," said Chief Executive Guy Berruyer.RD