The Sage Group plc Q1 2015 trading update
Did you catch this news from Sage Earnings yesterday? Some good news from our partners:
For the first three months of the year, Group organic revenue increased by 5.3%. The business remains on course to achieve the targets of 6% organic revenue growth and 28% operating margin in 2015, with the anticipated acceleration in revenue growth weighted towards the second half of the financial year, as stated at the time of the 2014 full-year results.
Organic recurring revenue grew by 7.0% for the first quarter, primarily driven by software subscription growth, and organic software and software-related services (“SSRS”) revenue grew by 1.0%. Organic software subscription revenue growth of 28.8% in the quarter maintains the growth momentum reported with the 2014 full-year results.
All regions contributed to this performance, with Europe delivering particularly good growth on an established software subscription base.As stated at the time of the 2014 full-year results, areas of weakness continue to be payments in North America and Europe Enterprise, particularly in France, and Management remain focussed on taking actions in these areas.
Read the full report here, in the official Sage Group release.