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Trading statements

Sage Group notes strong momentum into H2 2017

03 May 2017 07:48

Sage Group has posted a statutory H1 pretax profit of £180m, which was down from the restated £242m booked a year previous.

CEO Stephen Kelly said the results were positive and in line with market views, and that there were clear signs Sage's strategy was working.

The business had strong momentum entering H2 2017.

Revenue for the six-month period was £840m, which was down from the £1.4bn recorded previously. Dividend per share was 5.22p, up from 4.8p.

"The business as defined and constituted at the time of publishing FY 2017 guidance included North American Payments and excluded the contributions from FY 2017 acquisitions," the company said.

"On this basis we are very confident of exceeding our full year guidance of 6% revenue growth," it added.

"In addition we reconfirm our guidance of at least 27% operating margin on an underlying basis with acquisitions having no dilutive impact.

"We confirm there will be no further transformation-related exceptional charge post FY 2017 and the exceptional charge for current year is not expected to exceed £75m.

"We expect our strong Q2 performance to continue into H2 with accelerating momentum as we exit FY 2017."

Story provided by StockMarketWire.com

Related Company: SGE

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