Company
The Sage Group PLC
LON:SGE
The Sage Group PLC provides business software, services and support to small and medium-sized businesses. Sage's vision is to become a great SaaS (software-as-a-service) company for customers and colleagues alike.
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FTSE 100 closes lower as commercial real estate drags down the index
The UK's blue chip index lost 0.4% on the day to finish at 7,723 points
Sage jumps on rising revenue
Looking forward, Sage said it expects organic recurring revenue for the current financial year to be ahead of FY22
Sage expands digital network with acquisition of US connected accounting firm Lockstep
The Lockstep platform enables network connections into more than 40 different accounting solutions
Sage Group expects top-end sales growth
Growth of recurring revenue has accelerated as the year has progressed, up 10% in the third quarter
Sage sees slight dip in pretax profit, expects other revenue to decline
Though "mindful of increased macroeconomic and geopolitical uncertainties" the software specialist company left its full year outlook unchanged
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FTSE 100 ends higher on Friday 13th after roller coaster week as Wall Street rallies following falls
At the close, the UK blue-chip index was 184.81 points, or 2.6% higher at 7,418.15, just below the day’s peak of 7,421.95 and well above the session low of 7,233.34
Sage buys remaining 83% of Brightpearl for US$299mln
Brightpearl's retail operating system platform manages over 10 million transactions and US$5bn of business a year
Sage sees continued strong cloud performance boosting revenues
Sage forecast revenue growth of 8%-9% for the current financial year to end-September 2022
Sage confident over cloud switch but profits drop
"We believe that small and medium-sized businesses will lead the recovery," said chief executive Steve Hare
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FTSE 100 closes 1.15% up but big miners weigh on the benchmark
The UK's index of leading shares finished up over 80 points, or 1.15%, at 7,043