During a webcast, CFO Stephen Hare said the company should achieve at least 6 percent revenue growth for fiscal 2016. Organic recurring revenue was up 10.1 percent over last year's corresponding period. For the nine months sales were up 6.1 percent, As the switch from the desktop to the cloud proceeds, software revenue fell while subscription income jumped by 33.2 percent. Processing growth was in line with expectations while payroll was stronger than payments. Sage said there was continued momentum in Europe and North America, but provided no specific information on product performance.
SAGE REVS UP 6 PERCENT Featured
Sage says its organic revenue for the third quarter ended June 30 was up 6 percent over a year earlier. The figures were given as Sage issued its third quarter trading update. European companies provide trading updates for their first and third quarters with percentages of change but no monetary amounts for revenue and earnings.
