Company revenue of approximately $1.77 billion was 5.3-percent higher than in last year’s corresponding period. Overall, CFO Jonathan Howell indicated results are in line with guidance for fiscal 2019. The company provided a significant amount of information, given that in trading updates European organizations often provide little in specific revenue numbers. As is common, Sage provided no earnings figures. Growth continues to be driven by customer movement to the cloud with license revenue declining. The United Kingdom had nine-month revenue of roughly $374.7 million, which received a boost from that country’s Making Tax Digital initiative. That represented a rise of 7.2 percent; 15.6 percent in constant currency. Howell, noted the company was on track for internationalizing Intacct in Australia by the end of the fiscal year and in the United Kingdom by the end of the calendar year.
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SAGE NA REVS UP 10 PERCENT Featured
North American revenue for Sage rose to about $588.1 million for the nine months ended June 30. The software company said in this week’s trading update that the figure was up 10 percent over last year’s first three quarters, an increase of 12 percent in recurring revenue.
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