Mobile currency dents Sage profits
Thursday 15 May 1997
Currency fluctuations, particularly in the French franc, dollar and German mark, knocked pounds 5.5m from the group's half-year sales and more than pounds 1m from the pre-tax profit figure.
The currency impact forced Sage shares lower in early trading in spite of a 20 per cent increase in interim profits to pounds 19.3m.
However, the shares later recovered to close 1.5p higher on the day at 654.5p.
Profits in all main markets, the UK, US and mainland Europe, grew.
Sage expressed confidence that the pounds 40m acquisition of KHK, Germany's largest vendor of accounting software, would prove beneficial with Sage working to improve margins.
In France the removal of overlapping product ranges cost pounds 2.5m in the first half while in the US operating profits rose by 16 per cent.
On current trading, David Goldman, chairman, said the second half had started well and he expected the outcome for the full year to be satisfactory.
Group sales were 2 per cent higher at pounds 73.6m in the six months to 31 March. The dividend was increased by 10 per cent to 0.97p.
- 1 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 5 The 20 toughest job interview questions in the world
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Pictures show young Palestinian girl biting Israeli soldier trying to detain boy during West Bank protests
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Labour leadership: Jeremy Corbyn voters most likely to believe 'world is controlled by a secretive elite'
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...