Sage unit grows revenues by 27%

- Tuesday, February 15, 2011

Sage unit grows revenues by 27%

The Brazilian unit of European treasury management systems developer Sage-XRT increased revenues 27% in its 2010 fiscal year, ended in September, the company announced in a statement.

Country director Thierry Giraud attributed Sage's domestic surge to a 63% increase in license sales. The company added new products to its Brazil portfolio and launched sales channels in Rio de Janeiro and Minas Gerais states.

Since entering the market in 2008, Sage has performed better in Brazil than elsewhere globally, according to Giraud, who added that the national market boasts "an immense, unexplored potential" for financial management systems.

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Worldwide, Sage registered revenues of US$2.2bn and Ebitda of US$577mn in its 2010 fiscal year. The company has more than 6mn clients in some 70 countries.