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Sage revenue increases 9%

Sage revenue increases 9%

WASHINGTON: Sage has released full year results. Organic revenue grew by 6%, with recurring revenue up 9%, driven by strong growth in software subscriptions and the roll-out of new products such as Sage One.

Organic operating profit increased by 8% to £380m, and the organic operating profit margin rose to 27.1%. Underlying basic earnings per share increased by 12.6% to 25.00p, enabling the full year dividend to be lifted by 8% to 13.10p per share.

The outlook statement was positive but margin guidance was a little light of analysts’ expectations; the shares fell by around 4% in early morning trading.