
Please try another search
By Scott Kanowsky
Investing.com -- Sage Group PLC (LON:SGE) reported a jump in top-line growth in its first quarter, as Britain's largest listed tech company was boosted by solid demand for its range of accountancy and payroll products.
Recurring revenue during the three months to December 31 came in at £517 million, a rise of 12% compared to the same period last year. This constituted the bulk of Newcastle-based Sage's total revenue of £540M over the period, itself an increase of 10% year-on-year.
Underpinning this uptick was Sage Business Cloud, the company's suite of cloud-based bookkeeping software designed for small- to medium-sized businesses, which saw revenue grow by nearly a third to £390M.
A recent weakening in sterling against the U.S. dollar and the euro provided a tailwind as well.
In a statement, chief financial officer Jonathan Howell said first quarter trading had met the firm's expectations. He also reiterated Sage's full-year guidance for organic recurring revenue growth above 2022 levels and a "trend upwards" in operating margins, but flagged that risks remain in the "current macroeconomic environment."
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.