April 23, 2014

Sage share price tops FTSE 100 risers as dividend lifted

Sage’s share price topped the FTSE 100 risers  by posting a 7.34pc gain on Thursday,  to close at 372.90p. The software company revealed a 1pc increase in profits to total £360.5m.

Analysts had previously expressed concerns about increases in competition from Sage, especially in the cloud computing arena.

Guy Berruyer, Chief Executive, said: “I am pleased to report a strong set of results, with good growth across all regions and our strategic initiatives progressing well. These results highlight the strong appeal of our offering to SMEs, great execution in delivering on our plans and the benefit of a clear strategy, which focuses on our most significant growth opportunities. The strategy is working and growth is accelerating. We remain confident of achieving our target of 6% organic revenue growth in 2015, and anticipate further progress during the year ahead.”

Sage also lifted its dividend by 6pc.

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