1 Statutory loss due to £196.5m exceptional item in relation to the disposal of non-core products announced in February 2013
]]>Good progress made with our three cornerstones to drive accelerated growth:
Guy Berruyer, Chief Executive, said:
“We delivered good growth in recurring revenues, in line with our strategy. We continue to drive significant change through the business, which is delivering results in the face of continued macroeconomic headwinds. We are encouraged by our performance, which we expect to sustain for the remainder of the year, and we remain confident that we will deliver on our strategic and financial goals. In 2011, we set out our intention to move to a minimum net debt level of 1x EBITDA. The Board is pleased to announce we will meet this target with a proposed special dividend of £200m. With over £500m returned through the buyback programme and ordinary dividends paid or declared of £260m, we are delighted to have returned almost £1 billion to shareholders since October 2011, without compromising our ability to invest.”
# Organic revenue excludes the contributions of current and prior period acquisitions, disposals and assets held for sale. The impact of foreign exchange is neutralised in prior period figures.
* Underlying figures exclude amortisation of acquired intangible assets, acquisition-related items, imputed interest and exceptional items, with all adjustments net of tax. The impact of foreign exchange is neutralised in prior period figures.
† EBITA is defined as earnings before interest, tax, amortisation of acquired intangible assets, acquisition-related items and exceptional items. The impact of foreign exchange is neutralised in prior period figures.
^ Cash conversion is cash flows from operating activities, adjusted for cash acquisition-related items and cash exceptional items of £4.0m, divided by EBITA.
áµ At 30 September 2012, the number of paying subscriptions for Sage One was 6,190.
The Sage Group plc +44 (0) 191 294 3068
Guy Berruyer, Chief Executive
Paul Harrison, Chief Financial Officer
Murdo Montgomery, Investor Relations
Tulchan Communications +44 (0) 20 7353 4200
David Shriver
Lucy Legh
An analyst presentation will be held at 8.45am today at the London Stock Exchange plc, 10 Paternoster Square, London, EC4M 7LS.
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