Financial highlights for half-year ended 31 March 2009:


Statutory revenues increased by 17% to £748.4m (H1 2008: £640.4m), enhanced by favourable currency movements

EBITA margin increased to 24% excluding restructuring charges; EBITA margin maintained at 23% including restructuring charges (H1 2008: 23%*)

Statutory pre-tax profit of £139.2m (H1 2008: £122.6m), an increase of 14%m

Operating cash flow of £187.0m (H1 2008: £187.4m)

Strong balance sheet with a ratio of net debt to EBITDA of 1.6x; interest cover of 13.2x with committed debt facilities of £830m to 2011

Interim dividend raised 3% to 2.50p per share (H1 2008: 2.43p per share), reflecting reliable cash flows and the strength the sage business model

Organic subscription± revenue growth of 7% in the UK and Mainland Europe; 14% growth in Rest of World, contraction of 3% in North America, giving 2% growth for the Group

Renewal rates of support contracts maintained at 81% with continued strength in premium support and overall revenue growth in many of our product lines

Average of 40,000 customer support calls taken per day


York, 11th September, 2009

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