Business
Results for the six months to 31 March 2023
Results for the six months to 31 March 2023.
About this update from Sage Group Plc
[{"type":"text","content":"\n\nThe Sage Group plc\nResults for the six months to 31 March 2023 (unaudited)\nConsistent execution drives strong momentum\nSteve Hare, Chief Executive Officer, commented:\n\"Sage performed strongly in the first half, accelerating revenue growth, increasing profitability and making further progress against our strategic priorities. Our investments in technology and in sales and marketing are continuing to drive results, as small and mid-sized businesses increasingly choose Sage as a valued partner to transform the way they work.\n\"Our purpose is to knock down barriers so everyone can thrive. We are committed to delivering innovative, AI-powered services that make our customers' lives easier and their organisations more productive and resilient. Sage's global platform, centred on our expanding digital network, is enabling us to leverage our scale and collective expertise to maximise the significant opportunities we see across our markets.\n\"Small and mid-sized businesses are continuing to digitise, despite the macroeconomic uncertainty, and through our trusted technology and human approach Sage is well positioned to support them. I am confident that our proven strategy will enable us to deliver further efficient growth.\"\n\n\n\n\n\n\nUnderlying Financial APMs[1]\n\n\nH1 23\n\n\nH1 22[2]\n\n\nChange\n\n\nOrganic\nChange\n\n\n\n\nAnnualised Recurring Revenue (ARR)\n\n\n£2,100m\n\n\n£1,878m\n\n\n+12%\n\n\n+12%\n\n\n\n\nUnderlying Total Revenue\n\n\n£1,087m\n\n\n£989m\n\n\n+10%\n\n\n+10%\n\n\n\n\nUnderlying Recurring Revenue\n\n\n£1,039m\n\n\n£925m\n\n\n+12%\n\n\n+12%\n\n\n\n\nUnderlying Operating Profit\n\n\n£227m\n\n\n£199m\n\n\n+14%\n\n\n+19%\n\n\n\n\n % Operating Profit Margin\n\n\n20.8%\n\n\n20.2%\n\n\n+0.6 ppts\n\n\n+1.6 ppts\n\n\n\n\nEBITDA\n\n\n£275m\n\n\n£243m\n\n\n+13%\n\n\n\n\n\n\n\n % EBITDA Margin\n\n\n25.2%\n\n\n24.6%\n\n\n+0.6 ppts\n\n\n \n\n\n\n\nUnderlying Basic EPS (p)\n\n\n15.68p\n\n\n13.83p\n\n\n+13%\n\n\n\n\n\n\n\nUnderlying Cash Conversion\n\n\n117%\n\n\n120%\n\n\n-3 ppts\n\n\n\n\n\n\n\nStatutory Measures\n\n\nH1 23\n\n\nH1 22\n\n\nChange\n\n\n \n\n\n\n\nRevenue\n\n\n£1,087m\n\n\n£934m\n\n\n+16%\n\n\n\n\n\n\n\nOperating Profit\n\n\n£157m\n\n\n£204m\n\n\n-23%\n\n\n\n\n\n\n\n % Operating Profit Margin\n\n\n14.4%\n\n\n21.8%\n\n\n...