Sage Group Annual Earnings Slip, But Sales Rise

Sage Group Plc (SGE.L), a British software company, on Wednesday reported a decline in earnings for the fiscal 2022, amidst an increase in selling and administrative expenses and other costs. However, the firm reported an increase in sales.

For the 12-month period to September 30, the UK-based company posted pre-tax earnings of 337 million pounds, compared with 347 million pounds, a year ago.

Post-tax profit was at 260 million pounds or 25.17 pence per share as against last year's 285 million pounds or 26.08 pence per share.

Operating income was at 367 million pounds, lesser than the 373 million pounds reported for the previous fiscal. The decline in earnings was mainly due to the change in recurring and non-recurring items, including higher net gains in the prior year from disposals.

Selling and administrative expenses climbed to 1.442 billion pounds from previous year's 1.342 billion pounds. Finance costs also rose to 31 million pounds, versus 27 million pounds of 2021.

Cost of sales also moved up to 138 million pounds, compared with 131 million pounds of previous year.

The company generated annual revenue of 1.947 billion pounds, higher than 1.846 billion pounds, posted a year ago.

For the full year ended on September 30, the Group is proposing a final dividend of 12.10 pence per share. If approved, it will be paid on February 10, 2023, to shareholders of record on January 13, 2023.

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