BusinessCompany NewsSage’s organic growth disappoints

Sage’s organic growth disappoints

Half-year results sluggish

Despite beating forecasts, Newcastle-based Software group Sage has
disappointed the market after revealing sluggish growth on the back of its
failed bid for Scandinavian software vendor Visma.

The listed business software company reported its results under IFRS rules
for the first time and revealed that pre-tax profits for the six months to the
end of March rose 19% to £113.7m, just 2% to 3% higher than it said it would
achieve last month.

Revenue was up 18% to £455.9m.

Organic growth – excluding acquisitions – was just 5% with strong performance
in Sage’s newer territories such as South Africa and Australia offset by a small
2% rise in its biggest market, US mid-sized companies.

Finance director Paul Harrison said he expected organic growth to be higher
in the second half of the year.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor