Newcastle-based accountancy software company Sage Group Plc appears to be thriving in the Full List culture since its placing last December (CI No 1,329) and has posted maiden interim results with pre-tax profits up 63% to ?1.5m on turnover up 48% to just under ?7m. The group’s core subsidiary is still the software operation Sagesoft Ltd which saw sales improve by 37% over the six months. However, in the interim period, computer stationery sales increased by 53%, software maintenance by 153% and training by 82%. These three product areas now account for 34% of the group’s turnover compared with 26% for the same period last year. Furthermore, Sky Software Ltd which was acquired in October 1988 and markets a more advanced range of accounting software continues to grow its sales dramatically and is trading profitably. However, US Sage Inc, the group’s networking subsidiary which was set up in January 1989, has incurred a small trading loss but group chairman David Goldman says that activities in this market will continue on a low risk basis as long as there are sales opportunities in the retail and OEM sectors.
