Sage Group sees revenues rise amid 'strong' demand

A North East-founded international software firm has cheered “strong” demand after seeing revenues rise.

Sage Group saw total revenues increase 11 per cent to £2.06 billion in the nine months to June 30.

Bosses say the uptick was fuelled by demand for its Sage Intacct accounting platform and further software helping SMEs manage finance, payroll and HR.

They add its progress was additionally catalysed by increasing use of artificial intelligence across its technology suite.

The Newcastle-founded firm also enjoyed growth across its principal geographical areas.

In North America, revenue increased 14 per cent to £932 million, with UK, Ireland and Africa revenues growing ten per cent to £602 million, thanks to Sage Intacct’s “rapid scaling” and growth from its Sage 50 financial management platform.

European revenues increased seven per cent to £528 million, thanks to clamour for the company’s Sage X3 and Sage 200 business management platforms.

Jacqui Cartin, chief financial officer, said: “We have delivered nine months of accelerating revenue growth, with momentum strengthening further in the third quarter.

“This reflects focused execution as we deepen artificial intelligence capabilities across our platform, scale key products including Sage Intacct and increase customer value.

“Demand from new and existing customers remains strong.

“This gives us confidence in delivering sustainable, efficient growth.”

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 North and Latin America.

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

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.