The Sage Group PLC (LSE:SGE) jumped 6% to 803.5p after the FTSE 100 software company reported higher underlying earnings and revenue for the full year.
Underlying earnings (EBITDA) increased 3% to £468mln in the year to end September as revenue grew 6% to £1.9bn.
Organic recurring revenue rose 9% to £1.8bn, boosted by a 24% growth in Sage Business Cloud revenue.
As a result, it was able to report an organic operating profit of £383mln, up 8% on the previous 12 months.
Looking forward, Sage said it expects organic recurring revenue for the current financial year to be ahead of FY22, driven by strength in Sage Business Cloud, while operating margins are expected to trend upwards in FY23 and beyond.