Sage pushes on with new plan
SHARES in software provider Sage went up by 8.36 per cent yesterday after the firm reported a 6.5 per cent increase in revenue during the six months to 31 March, up to £699m from £657m in the same period of last year.
Profit before tax also grew, up 4.9 per cent from £165m to £173m, while the number of software subscriptions broke through the 550,000 barrier.
The company’s chief executive, Stephen Kelly, told City PM yesterday that the first half growth had allowed Sage to increase its dividend by eight per cent. He added that the firm has “a lot to do going forward”, and said the company was following a change plan aimed at improving customer experience.
“The key message we have had from customers is that Sage is indispensable,” said Kelly.