Sage clear cloudy future

Written by Mark Evans

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.