Sage steady amid “toughening” conditions

Shares in Sage are down 3% this morning, following a management statement covering the period since the beginning of April. The company observes that the environment is “toughening”, but notes no major change in trading or outlook since it reported its interim results in May (see Sage stays positive).

In today’s brief update, Sage says the UK and Ireland have managed “good growth”, but mainland Europe is clearly proving a tougher (and toughening) place to grow. Meanwhile, North America is showing “sequential quarter by quarter improvement” and there have been strong performances from South Africa and Australia in particular.

If today’s statement is light on new news, you have to hope tomorrow’s Sage investor day will provide more for analysts to chew on. We look forward to hearing the company’s long-anticipated, and much-needed, multi-year growth strategy.