Sage reveals 5% rise in profits

Accountancy software company Sage reported a 5% lift in underlying pre-tax profits, excluding restructuring costs, to £169.4m (€198.7m) in the six months to March 31 on sales up 2%.

The UK-headquartered group said cost cutting in 2009 helped profits, while strong pent-up demand from firms that delayed spending in the recession should support further progress.