Accountancy software group Sage reported a 14 per cent lift in interim pre-tax profits, in line with market expectations.

The Newcastle-based company saw revenues grow as existing customers bought a bigger range of software and services helping Sage grow organically while also signing up new customers.

Sage, which supplies accounting and business management software and related products, has about three million small and medium-sized businesses as clients.

Pre-tax profits rose to £74.3 million from £65.1 million in the same period a year earlier.