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20 Nov 2020 | 07:02

Sage recurring revenue rises 8.5%

(Sharecast News) - Accounting software firm Sage lifted its dividend as it reported a 8.5% rise in organic recurring revenue to £1.6bn, driven by growth from existing and new customers, in North America and Northern Europe. Total revenue rose 3.7% to £1.76bn. Sage said the result was underpinned by software subscription revenue growth of 20.5% to £1.14bn. Sage guided for organic recurring revenue growth for fiscal 2021 to be 3% - 5%, weighted towards the second half of the year.

The full-year dividend was increased 2% to 17.25p a share.
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