From Morningstar: 2024-11-20 08:09:45

Sage Group announced a £400 million share buyback, with strong Cloud business sales boosting annual revenue. Pretax profit climbed 51% to £426 million, with underlying operating profit rising 21% to £529 million. Revenue increased by 6.8% to £2.33 billion, with underlying revenue growth at 9%.

Annualized recurring revenue rose 11% to £2.34 billion, with Sage Business Cloud revenue up 16% to £1.87 billion. Subscription revenue increased by 13% to £1.91 billion. CEO Steve Hare highlighted strong revenue growth, higher profits, and strategic execution.

Shares in Sage surged by 16% to 1,251.50p in London, making it the best performing stock in the FTSE 100. Revenue growth was in line with expectations, with operating profit ahead by 3%. Citi expects consensus operating profit view for 2025 to increase by a low to mid-single digit percentage.



Read more at Morningstar: Sage Surges on Profits and Share Buybacks