Peachtree 2011 Annual Report Download - page 10

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28%
margin
29%
margin
£764m
£796m
2010 2011
EBITA Revenue
Europe
Good growth in 3 of our 4 largest markets
•Total and organic revenue grew 4%
•Subscription +5%
•Software and software-related services +3%
•UK & Ireland grew 5% with good performance
in all market segments
•5% growth in France with good performance
in the mid-market and added stimulus from
SEPA changes
•Germany grew 5% with new releases of core
products generating demand
•Poland and Portugal performed strongly
benefitting from legislative changes
•Spanish business flat in difficult economic
conditions
•EBITA margin 29% (2010: 28%)
At constant exchange rates
10