Estimated reading time: 1 minute, 3 seconds


Sage’s North American revenue rose 28 percent to about $601 million for the first half ended March 31. Recurring revenue rose to roughly $581.3 million, an increase of 31 percent year-over-year. O

rganic growth rose 14 percent overall for the continent and 16 percent for recurring revenue. Intacct drove growth with annual recurring revenue increasing by 30 percent in the United States and more than doubling outside this country. Total revenue rose to roughly $1.35 billion, a 16-percent increase from last year’s corresponding period First-half earnings of approximately $124.5 million were down 34.2 percent. Subscriptions continued to grow as a percentage of total revenue, increasing to 78 percent from 73 percent a year ago. During this week’s earnings cast, CEO Steve Hare says Sage has implemented price increases, but these are not designed to increase revenue.  “We have not put through price increases to match inflation,” he says. The increase have been designed to cover salary and wage increases it provided its own employees. In a exchange with Jacqui Cartin, group financial controller, Hare talked about the increase as “four-and-a-half”, apparently meaning the percentage increases. Additionally, Hare described the competitive market in both the United States and United Kingdom. He said NetSuite was the vendor most seen in small business deals. “The number one computer remains Oracle NetSuite in every opportunity.”


Read 192 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.