Sage lifted by H1 update

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Sage lifted by H1 update

The price of shares in FTSE 100 enterprise software firm Sage Group (LON:SGE) climbed 3.79% to 679.80p (as of 11:15 BST) after the company posted its results for the six months ended 31st March. Revenues were up by 1.9% and statutory operating profits margin improved by 780 basis points to 29.7%. Management said that while it had performed well during the first half, it was too early to quantify the impact of the pandemic over the remainder of the financial year.

CEO Steve Hare commented: “Sage has had a strong first half, sustaining last year’s growth momentum as we continue to focus on recurring revenue growth, and making good progress in strategic execution. Our key priority has been the health and wellbeing of our colleagues and our service to customers. I am proud of how colleagues have reacted, and how they have supported each other and our customers. Despite the near-term uncertainties, I believe our continuing investment into Sage Business Cloud, together with our focus on customers, colleagues and innovation, form a strong base for the future performance of Sage“.

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