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SAGE H1 STORY: INTACCT SALES Featured

The story for Sage’s results for the first half ended March 31 was that there is Intacct and then there is everything else. Overall revenue was approximately $1.32 billion for the recently ended off, down 4 percent from a year earlier.

Results were impacted by a 5 percent gain in the value of the U.S. dollar against the British pound,  year to year. But cloud native revenue, which is largely Intacct, was up 36 percent. “Sage has had a good half,” CEO Steve Hare said in this week’s earnings webcast. As with the rest of the industry. Company net profit fell 35 percent to roughly $205.7 million. Sage’s results were a blend of strong growth in cloud sales and a decline in on-premise business. Intacct sales in North America rose 19 percent to about $111.3 million. The company added more than 700 Intacct customers, an increase of 50 percent year-over-year, according to Hare. Excluding Intacct, recurring revenue in the U.S. rose 2 percent to about $267 million while total revenue in this country fell 1 percent to about $293 million. North America revenue dropped 1 percent to roughly $479 million. In the mix of charts of statutory, organic and recurring revenue and Sage Business Cloud, Sage did not provide an overall sales figure for Intacct or total revenue for the United States. North American operating profit dropped about 1.8 percent to approximately $77.9 million; up .8 percent both organically and in constant currency. The story in the United Kingdom, where Intacct is relatively new was different because of sales of other cloud products, including Sage Accounting.  “We are definitely making progress with Sage Accounting in the U.K., and it’s not just Sage Accounting. It’s the whole suite,” Hare said  The company also pointed to sales of Sage People, along with migrations to Sage HR, neither of which were mentioned in discussing North American results.

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