Business
Trading update for nine months ended 30 June 2024
Trading update for nine months ended 30 June 2024.
About this update from Sage Group Plc
[{"type":"text","content":"\n\n \n\nThe Sage Group plc\nTrading update for the nine months ended 30 June 2024\n \nThe Sage Group plc (FTSE: SGE), a leader in accounting, financial, HR and payroll technology for small and mid-sized businesses, today issues a trading update for the nine months ended 30 June 2024[1].\nJonathan Howell, Chief Financial Officer, commented:\n\"Sage performed well in the first nine months, delivering revenue growth in line with our expectations and sustaining good momentum, despite ongoing macroeconomic uncertainty. Accordingly, we reiterate our guidance for the full year, as set out in our half year results announcement. Our continued success in transforming the workflows of small and mid-sized businesses, supported by our focus on innovation and investment in AI, underpins confidence in our strategy to deliver sustainable, efficient growth.\"\n\n\n\n\nUnderlying Revenue Performance[2]\n\n\nQ3 24 YTD\n\n\nQ3 23 YTD\n\n\nGrowth\n\n\nOrganic\nGrowth\n\n\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTotal Revenue\n\n\n£1,737m\n\n\n£1,589m\n\n\n+9%\n\n\n+9%\n\n\n\n\n of which Sage Business Cloud\n\n\n£1,387m\n\n\n£1,192m\n\n\n+16%\n\n\n+16%\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\nTotal Revenue by Region\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nNorth America\n\n\n£786m\n\n\n£699m\n\n\n+12%\n\n\n+12%\n\n\n\n\nUKIA\n\n\n£497m\n\n\n£460m\n\n\n+8%\n\n\n+8%\n\n\n\n\nEurope\n\n\n£454m\n\n\n£430m\n\n\n+6%\n\n\n+6%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n Sage's revenue grew by 9% to £1,737m in the first nine months of the year. Regionally, revenue in North America increased by 12% to £786m, with a good performance from Sage Intacct together with continuing growth in Sage 50 cloud and Sage 200 cloud. In the UKIA region, revenue grew by 8% to £497m, driven by Sage Intacct together with cloud solutions for small businesses (including Sage Accounting and Sage Payroll), alongside further growth in Sage 50 cloud and Sage 200 cloud. In Europe, revenue increased by 6% to £454m, with a strong performance across our accounting, HR and payroll solutions.\nSage Business Cloud revenue increased by 16% to £1,387m, driven by growth in cloud native revenue of 23% to £539m (Q3 23 YTD: £437m) primarily through new customer acquisition, and by gr...