logo
Plus   Neg
Share
Email

Sage Group Q1 Revenue Rises; Backs FY Outlook

Technology company Sage Group Plc (SGE.L) reported Wednesday that its total first-quarter Group revenue increased 6.7 percent to 465 million pounds from last year's 435 million pounds.

Group recurring revenue grew 10.7 percent to 410 million pounds from 370 million pounds a year ago. Software subscription growth was 24.8 percent to 286 million pounds.

Other revenue fell 15.8 percent to 55 million pounds.

The company noted that recurring revenue growth was driven principally by North America and Northern Europe (UK & Ireland), with strong momentum from FY19 carried forward into the first quarter.

In North America, recurring revenue grew 11.8 percent, driven by cloud connected solutions and a good performance from Sage Intacct. Northern Europe's recurring revenue growth was 15.1 percent.

Jonathan Howell, Chief Financial Officer, said, " Looking ahead, we reiterate our guidance for the full year, as outlined in the FY19 results announcement."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Facebook said it is launching new tools that will help health researchers to track and combat the spread of COVID-19 by using anonymized location data from users. The social media giant said its 'Data for Good' program is developing Disease Prevention Maps that provide details on how population movements around regions are influencing the spread of the disease. Amazon.com decided to donate 8200 laptops, worth more than $2 million, to elementary students in Seattle Public Schools (SPS) to help towards the continuous learning plan during the coronavirus (COVID-19) pandemic. SPS is the largest K-12 school system in Washington State to ensure that each student graduates ready for college, career and life. With classrooms going digital due to the stay-at-home order amid the Covid-19 pandemic, the New York City has banned the use of video conferencing app Zoom to conduct online classes, citing privacy and security concerns. The city's Department of Education in partnership with the NYC Cyber Command took the decision after receiving many reports of "Zoombombing".
Follow RTT
>