THE Sage Group predicted small firms’ demand for new technology would help drive it forward as it reported an 11 per cent jump in pre-tax profits for the first half of the year.
The Newcastle software company yesterday reported profits before tax of £177.5m for the six months to March.
Chief executive Paul Walker described it as a strong increase in profitability for the company, which endured a tough time during the recession, shedding 700 jobs as part of cost-cutting plans to save £49.3m a year.
Mr Walker believed smaller firms, which had been unable to afford to upgrade software, would look to do so as the economic climate improved.
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