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Profit falls 31% at software group Sage Sage shares rose on Friday after the news (Luciana Guerra/PA) Profit has tumbled by nearly a third in the last half-year at software giant Sage, but it also expects to reach the upper end of forecasts this year. The business said that pre-tax profit dropped 31% to £190 million in the six months to the end of March. Revenue also dropped, by 4% to £937 million. However, the business pointed to its organic recurring revenue, a separate measure which essentially catches subscriptions. This rose 4.4% to £811 million over the period. “Sage performed stro...

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...

Sage shares rose on Friday after the news (Luciana Guerra/PA) Sign up for our daily newsletter featuring the top stories from The Press and Journal. Thank you for signing up to The Press and Journal newsletter. Something went wrong - please try again later. Sign Up Profit has tumbled by nearly a third in the last half-year at software giant Sage, but it also expects to reach the upper end of forecasts this year. The business said that pre-tax profit dropped 31% to £190 million in the six months to the end of March. Revenue also dropped, by 4% to £937 million. However, the business po...

British software giant Sage is predicting a bumper 2021 as companies emerging from the pandemic invest in technology again.  The FTSE100 firm, which specialises in accountancy systems, said small and medium-sized customers are beginning to spend as the economy bounces back.  Many pressed pause on big spending decisions during the Covid-19 crisis in an effort to conserve cash.  But Sage boss Steve Hare said customers were now opening their wallets again.  'There is definitely a sense of optimism,' he said. 'Customers have the confidence to invest in technology again.  'We believe that sma...

Profit falls 31% at software group Sage Sage shares rose on Friday after the news (Luciana Guerra/PA) Profit has tumbled by nearly a third in the last half-year at software giant Sage, but it also expects to reach the upper end of forecasts this year. The business said that pre-tax profit dropped 31% to £190 million in the six months to the end of March. Revenue also dropped, by 4% to £937 million. However, the business pointed to its organic recurring revenue, a separate measure which essentially catches subscriptions. This rose 4.4% to £811 million over the period. “Sage performed stro...