The price of shares in FTSE 100 business software giant Sage Group (LON:SGE) climbed 3.11% to 590.80p (as of 12:05 GMT) after the firm reported a 1.4% improvement in organic revenue for the three months ended 31st December. Management said that performance was in line with expectations as recurring revenue lines grew by 4.7%.
CFO Jonathan Howell commented: “We have continued to deliver against our strategy in the first quarter, growing recurring revenue in line with our plan for the year, supported by good demand for Sage Business Cloud solutions. Accordingly, we reiterate our guidance for the full year, as set out in our FY20 results announcement. While the pandemic increases uncertainty in the near term, we continue to expect that our investment in Sage Business Cloud will drive the growth and long-term success of Sage“.