Sage pre-tax profits tumble 31 per cent - CityAM : CityAM
Sage pre-tax profits tumble 31 per cent Sage Group headquarters in Newcastle upon Tyne. (Photo by Ian Forsyth/Getty Images) Software giant Sage Group pre-tax profits sank 31 per cent to £190m in the first half of its financial year, as it wired investment towards its cloud software. The group’s revenue also fell by 4 per cent to £937m, in the six months to the end of March, Sage told investors today. However, its measure of organic recurring revenue grew by 4.4 per cent, which aligned with the group’s previous shareholder forecast of between three and five per cent. Sha...