Sage has reported signs of a return of SME spending filtering through as it reported that trading remains in line with expectations it outlined in prelim results last month.
The accountancy and CRM software specialist released an interim management statement this morning indicating that not only was it seeing growth but it had improved its net debt position reducing its debt levels from £219.8m last September to £187m.
The firm said that the recovery in the second half of its fiscal year, which ended on 30 September, had continued into the first quarter. Organic growth of 3% in December was the first time there had been a rise in software revenue for a couple of years.
"Our principal markets continued their gradual recovery in the quarter, and I am pleased that our results were in line with our expectations," said Guy Berruyer, chief executive at Sage.
He added that it expected the momentum to continue and build on the spending that was returning across geographies and in its key SME market.