Sage, the accounting, financial, HR and payroll group, reported a 10% uptick in revenue in the three months to 31 December.
Total group revenue grew to £540mln, with recurring revenue for the business providing the bulk of this at £517mln.
Recurring revenues grew by 12% compared to a year earlier, which Sage said was “underpinned by a 31% rise in business cloud subscriptions.
Sage Business Cloud is a suite of cloud-based accountancy and payroll products aimed at small to medium-sized businesses (SMEs).
North America contributed the most to recurring revenue at £235mln, 18% higher than a year earlier.
“While we are mindful of the current macroeconomic environment, we remain confident in our strategy for delivering efficient growth and we reiterate our guidance for the full year, as set out in our financial year 2022 results announcement,” said chief executive Jonathan Howell.