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SAGE SAYS 3Q OK - BROADLY

Sage logoThe Sage Group issued this week one of those typical vague statements as a trading update for a quarter in which it does  not report actual results. In this case for the third quarter ended June 30, the British parent stated that "Despite a toughening economic environment, trading remains broadly in-line with expectations at the time of the interim results announcement on 9 May 2012."

What does "broadly" mean? Does that mean results were generally favorable? Or is it in the sense that, broadly speaking, the British had a great deal of success on the battlefield during the American Revolution? The other reference to North America was that business in this part of the western hemisphere "continued to demonstrate the sequential quarter by quarter improvement in trading which was anticipated to be a feature of the year." There was no clear reference to results year-over-year. And for the most part, this has more specific than these trading announcements usually are although the English phrasing in this announcement seems awkward. The company noted that Europe has been flat, given the economic problems there. The release preceded this week's Investor's Day for which Sage has put up several PDFs covering the presentation. Broadly speaking, the webcast was supposed to be available on July 18 on the Sage site. But it wasn't and the wording was changed to state it would be available "soon".

 

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