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CLOUD, INTACCT BOOST SAGE YEAR Featured

Steve Kelly, SageSage had a good year for the 12 months ended September 30, reporting 6-percent growth in organic revenue this week. That includes results from the spun off North American Payments business.

In terms of getting the company back on track, in a video CEO Steve Kelly declared, "We found the organization to be fragmented misaligned and inefficient" when he took over two years ago, but continued "The transformation is now complete."  The United States trailed the company with 5-percent revenue growth while a 10-percent rise in that measurement for Canada pulled up North American results. Toss in the Intacct acquisition and the top line reached approximately $2.3 billion a 19-percent increase from fiscal 2017. North American revenue rose to roughly $653 million for the year just ended, a 21-percent increase from the prior year. Sage said the U.S. had a slow start to the fiscal year but turned around under new leadership, Profit for FY 2017 dropped to approximately, $327 million, a decline of 24.2 percent. However, currency losses of roughly $74 million contributed to the drop. X3 produced strong growth with sales up 20 percent and the company noted the applications "continues to push up further into enterprise with over 50 contracts signed for over £100k ($132,000) in the year: and 9-percent increase in annual contract value.

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