Sector movers: Great numbers from Sage
Software accounting firm Sage gave the software and computing sector a lift this morning when it announced revenues had surpassed the billion pound revenue mark for the year, although profits were held back by increased admin and selling costs.
"The new year has started well, with all regions performing in line with our expectations," said the group.
Also going well are OMG and SQS after trading statements this morning.
Automatic camera tracking specialist OMG reported record turnover, up 20% to £19.6m, and an 11% increase in profit before tax. Nick Bolton, chief executive of the company said: "'I remain confident that with our technology we will continue to consolidate our position in the new areas of defence and street level imaging and highway data collection as well as maintain our leading position in motion capture."
Software testing firm SQS was wanted after it raised profit expectations for the year for the second time in three months. The company said revenues and profits this year are expected to be slightly ahead of market expectations, as the company is experiencing strong growth in all regions and all market sectors.
Elsewhere in the sector data search software specialist Autonomy advanced briskly on news that M6, one of France's leading television channels, has chosen the company's Intelligent Data Operating Layer (IDOL) platform to automatically organize and manage its extensive video archive.
On the downside, miners are friendless this morning in line with weaker commodity prices. Vedanta, however, has improved on reports that it is about to add to its 51% stake in Zambia's Konkola copper mines. According to India's "The Economic Times", Vedanta is eyeing Zambia Copper Investments' 28.4% stake in Zambia largest copper mine.
Top performing sectors so far today
Software & Computer Services 454.50 +4.24%
Travel & Leisure 5,593.00 +2.52%
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General Financial 8,091.40 +1.86%
Oil Equipment Services & Distribution 14,451.60 +1.57%
Banks 8,730.30 +1.22%
Bottom performing sectors so far today
Automobiles & Parts 4,501.30 -3.14%
Industrial Engineering 3,203.10 -1.04%
Industrial Metals 6,437.80 -0.63%
Chemicals 4,596.40 -0.48%
Mining 22,078.20 -0.29%
