Sage looks to cloud for silver lining
After a year of sluggish growth, Sage is hoping that sales from cloud computing will make up for weak markets in France and Spain and help accountancy software supplier to double its growth rate by 2015.
The FTSE-listed developer earlier this month reported a 2% increase in underlying revenue to £1.3bn.
Pre-tax profit for the year to end September was £356.3m, up 4% from 2011.
These rates of growth are a far cry from the run of double-digit growth the company experienced up to the point that cloud-based rivals began to lure away the small businesses that are key to its success.