Sage suspends share buyback programme amid Covid-19

Software company Sage has decided to suspended its share buyback programme to preserve "a high level of liquidity" in light of the Covid-19 pandemic.

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The company, which kicked off the share buyback on 12 March, said it has a "strong balance sheet and low debt, supported by a resilient, recurring revenue stream and robust cash flow generation".

Sage said that while the impact of the outbreak on its business performance so far has been limited, it is prudent so suspend the buyback amid the "highly uncertain" economic outlook.

It will consider restarting the programme in due course.