logo
Plus   Neg
Share
Email

Sage Group H1 Profit Up, Backs FY19 Outlook; Names John Bates Non-exe. Director

Technology company Sage Group Plc (SGE.L) reported Friday that its first-half profit before tax was 198 million pounds, up 16 percent from 171 million pounds a year ago.

Basic earnings per share grew 14 percent to 14.19 pence from 12.50 pence last year.

Underlying profit before tax was 205 million pounds, compared to 208 million pounds a year ago. Underlying earnings per share were 13.93 pence, compared to prior year's 14.24 pence.

Revenue for the period increased 6.4 percent to 957 million pounds from 899 million pounds in the prior year.

Further, the company announced an increase in interim dividend of 2.5 percent to 5.79 pence.

Looking ahead, the company said its full year outlook shows continuing confidence in recurring revenue growth in the remainder of fiscal 2019.

The company expects fiscal 2019 organic recurring revenue growth to be at the top end or slightly exceed the guided range of between 8-9 percent.

Overall, expectations for full year total revenue remain unchanged and the Group maintains its organic operating profit margin guidance of 23-25 percent.

Separately, Sage Group announced the appointment of John Bates to its Board as a non-executive director with effect from May 31. Bates is currently CEO of Eggplant, which specialises in AI-powered software test automation.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A flaw in new iPhone operating system iOS 13, which is released by Apple on Thursday, exposes contact details stored in iPhones without requiring a passcode or biometric identification. Apple has known about the flaw since July, according to CNN business report quoting a person who reported the bug to Apple. Chinese electronics giant Huawei on Thursday launched its latest flagship smartphone range the Mate 30. Huawei unveiled the Huawei Mate 30 and Mate 30 Pro at an event in Munich. The new phones boasts of professional-grade cameras that competes directly with Apple's new iPhone 11 and iPhone 11 Pro... Schwartz Brothers Bakery of Seattle, Washington recalled 24 units of lemon dessert bars as it may contain undeclared egg. The products have a sell by date of September 21, 2019. The company issued the recall after it found that some of the Lemon Pound Cake was mislabeled as Lemon Dessert Bars. While the Lemon Pound Cake contains egg, the Lemon Dessert Bars label does not declare egg.
Follow RTT
>