Sage Group hails AI impact as profits rise

A North East-founded international software firm has hailed the power of its artificial intelligence apparatus after demand pushed earnings higher.

Sage Group saw operating profit jump 18 per cent to £255 million in latest half-year results.

Bosses say the rise was spurred by the company’s Sage Copilot artificial intelligence-driven tool, which monitors data, workflows and automates tasks such as invoice reminders.

And with clamour increasing, they say the business, founded in Newcastle in 1981, “remains resilient and diversified… in a volatile and uncertain macroeconomic environment”.

According to the company’s financial figures, which cover the six-month period to March 31, the demand – allied to higher earnings across its Sage Business Cloud suite, which provides software to help SMEs carry out accounting, payroll and payment tasks – helped ease revenue eight per cent higher than a year ago to £1.24 billion.

Steve Hare, chief executive at the business, which was named the number one company in North Tyneside by turnover at The NET 250 event, said: “We delivered strong results in the first half of the year.

“Our performance reflects the strength of our accounting, HR and payroll solutions, underpinned by ongoing investment in our network platform.

“We continue to focus on innovation, transforming customer workflows through artificial intelligence-powered services.”

Sage Group listed on the London Stock Exchange in 1989 and began entering international markets in earnest from the early 1990s.

Today, the firm, which runs operations from North Tyneside’s Cobalt Business Park, serves millions of customers across countries in mainland Europe, Africa, Australia, Asia and Latin America.

It has further UK bases in London, Manchester, Brighton, Bristol and Wokingham.

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