The Sage Group plc (”Sage”) is today issuing its interim
management statement which covers the period from 1 October 2011 to
The trading performance since the start of the year has been
satisfactory and is in-line with expectations for the year.
The Group`s strong operating cash generation has continued and,
during the quarter, we received £200m from the proceeds of the
disposal of Sage Software Healthcare LLC to Vista Equity Partners.
As previously announced, a share buyback programme was started to
return these proceeds and, to date, 17.7m shares have been
repurchased for an aggregate consideration of £50m. Accordingly,
net cash at 31 December 2011 was £149.8m (£24.9m net debt at 30
Guy Berruyer, Chief Executive, commented:
“In the context of a macro-economic environment which remains
challenging for our customers, we have made a satisfactory start to
the year and trading is in-line with expectations for the year.
The strong fundamentals of Sage’s business positions us well to
cope with the ups and downs of the economic cycle. We are confident
that the business priorities, on which we are focused to drive
growth, will bear fruit as the year progresses but we remain
watchful of the European environment in particular.”
About The Sage Group plc
The Sage Group plc is the leading global supplier of business
management solutions to small and medium-sized enterprises. Formed
in 1981, Sage was floated on the London Stock Exchange in 1989.
Sage has over 6 million customers and more than 12,300 employees
worldwide. We operate in over 23 countries covering the UK,
mainland Europe, North America, South Africa, Australia, India and
China. For further information please visit www.sage.com
The Sage Group plc +44 (0)191 294 3068
Guy Berruyer, Chief Executive
Paul Harrison, Group Finance Director
Murdo Montgomery, Investor Relations
Tulchan Communications +44 (0)20 7353 4200