Tech demand helps push Sage's revenues higher

A North East-founded international software firm has saluted the impact of its artificial intelligence apparatus after demand pushed sales higher.

Sage Group saw total revenue rise nine per cent to £1.86 billion in the nine months to June 30.

The company says the uptick was spurred by clamour for its Sage Intacct financial management and accounting platform and its Sage Business Cloud suite, whose software supports smaller firms with accounting, payroll and payment tasks.

According to its latest results, revenue across the UK, Ireland and Africa increased by nine per cent to £539 million, with sales growing 11 per cent across North America to £846 million.

European revenue increased seven per cent to £477 million.

Jonathan Howell, chief financial officer at the Newcastle-founded business, which was named the number one company in North Tyneside by turnover at The NET 250 event, said: “The business has delivered good levels of growth, despite ongoing macroeconomic uncertainty.

“Our cloud and artificial intelligence-powered solutions are driving success for customers and confidence in our strategy.”

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 around the world.

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

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