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Sage clear cloudy future

Written by Mark Evans
24/01/2018

Accounting software group Sage has announced its results for its Q1 trading, with performance broadly in line with expectations.

The Q1 results brought a rise in organic recurring revenue of 7 per cent, but the main story was the successful migration to, and growth of, subscriptions of 26 per cent, demonstration a firm commitment to moving the company’s products into being a SaaS provider. Such a shift also some expected drops in licence revenue and also gains in training.

Management remains confident of a good Q2 and annual growth of 8 per cent.