Sage warns that conditions in mainland Europe 'remain challenging'

23rd Jan 2013 07:28

Sage group has reported trading in-line with expectations in its interim management statement for the period from October 1st to date, according to an announcement issued by the company on Wednesday morning.The FTSE 100 business software firm said that its revenue trends had varied across geography.The UK and Ireland business demonstrated "good growth" in the first quarter, whilst conditions in mainland Europe remained "challenging". The group stated that Sage Pay had delivered "very strong growth" in the quarter. In North America, the group stated that the "stronger trading performance" reported for the second half of 2012 had continued in the first quarter. Sage's Brazilian business "delivered good growth", in line with company expectations, the company added. Guy Berruyer, Chief Executive Officer, commented: "Overall, trading remains solid and in-line with expectations. Economic conditions for our customers are challenging across our markets and we remain particularly watchful of the uncertain market environment in mainland Europe. "However, the strong fundamentals of our business model and our continued progress in executing against our strategy, underpins our confidence in the future growth prospects of the business."MF