Sage Group shares jumped by a fifth to trade at a record high on Wednesday as the business software group hiked investor payouts after a bumper financial year. The group, which provides businesses with accounting and payroll solutions, told shareholders that underlying operating profits had rocketed 21 per cent to £529million in the year ending November. Total underlying revenue jumped by almost £200million to £2.3billion, thanks to higher sales across all regions and customer subscription penetration expanding by three percentage points to 82 per cent. And on a statutory basis, the Newcastle-based group's operating profits climbed by 43 per cent to £452million, thanks to an absence of property restructuring charges and adverse currency movements. Boss Steve Hare said: 'Sage has delivered another successful year, achieving strong, broad-based revenue growth together with significantly higher profits and cash flows.

Source: Daily Mail November 20, 2024 13:10 UTC