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Financial Website Directory Ireland

Sage: Tough European Market Affects Growth

Author: Finance Directory
Category: Financial Software
Date Added: July 16, 2012 09:58:03 AM
Page Views: 2072

The British software company Sage Group PLC said on Monday, trading conditions in mainland Europe had toughened since April, resulting in no sign of the improvement in growth it had expected for that region.

Sage, whose accounting and business management software is used by over six million companies worldwide, said, however, that better trading in North America quarter-on-quarter and with good growth in Britain and Ireland were helping keep it on track.

The company’s chief executive Guy Berruyer said: "Whilst we remain cautious on the outlook for Europe, and watchful of this region's economic climate, the strong fundamentals of our business model remain and we continue to make good progress in executing against our business priorities."

Sage reported it was seeing stronger growth in Australia and South Africa, and the group has entered the Brazilian market last month by buying 75% of Folhamatic, a industry leader in the relatively underdeveloped small business software market in that country.