Accountancy software giant Sage said that trading in its first quarter to the end of December 2009 had been in line with expectations in all of its regions.
IC TIP:
Hold
at
239p
But the company said there had been no change to market conditions since it revealed its full-year results in early December - in other words, its small business customers remain under pressure, and Sage is still reliant on value-added subscription sales to offset lower sales of software and services. Broker Evolution says that last year's proactive cost reductions mean this year's EPS forecast of 17.3p looks safe.
