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 Windows 10: man updates PC, wakes up to find porn slideshow on repeat
- 2 The 'world's most beautiful vagina' has been debunked by science
- 3 John Green schools morning show hosts after awkward interview with Cara Delevingne
- 4 Supermodel Gisele Bundchen mocked for wearing a burka to avoid being seen visiting plastic surgeon in Paris
- 5 Bulletproof armadillo puts Texas man in hospital after shot bounces off hard shell
Whoopi Goldberg tells Cara Delevingne to suck it up: 'She's not famous. I'M famous'
John Green schools morning show hosts after awkward interview with Cara Delevingne
Supermodel Gisele Bundchen mocked for wearing a burka to avoid being seen visiting plastic surgeon in Paris
Bulletproof armadillo puts Texas man in hospital after shot bounces off hard shell
'Rowdy' Roddy Piper dies: Wrestling legend dies aged 61, according to reports
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Labour leadership contender Jeremy Corbyn says 'we can learn a great deal from Karl Marx'
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Public anger after French sunbather beaten up by gang for wearing a bikini in Reims park
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: This is an exciting opportunity...
£13000 - £15000 per annum: Recruitment Genius: Are you passionate about custom...
£22000 - £25000 per annum: Recruitment Genius: Main purpose: Under the directi...
£35000 - £37000 per annum + benefits : Ashdown Group: Contracts Manager - City...