Real time information (RTI) helped Sage’s UK and Ireland subsidiary lead their international counterparts, the accounting software company reported this week.
In its 2013 annual report Sage group said it achieved global organic growth of 4%, but saw its operating profit drop from £344.9m in 2012 to £180.5m this year. The fall mainly resulted from offloading “non-core” products that wiped out £188.2m worth of profits, but the move “streamlined the portfolio, allowing a greater focus on the core”, said chief executive Guy Berruyer.
The disposals included Sage's construction business, which netted £2.4m when it was sold on 30 April.
Sage’s pre-tax profit fell £170m to £164.1m in 2013. The group paid £116.6m in tax, which included an exceptional charge of £17.4m on the disposal of its non-core products.
Sage's "highlight" was the UK and Ireland, which surpassed sluggish growth rates for new licence sales in Europe thanks to the introduction of RTI. The switch also boosted demand for Sage 50 Payroll and RTI training programmes...