Sage: subscription revenue growth but shares take a hit
Full year results disappointed the market but there were plenty of positives in a very challenging year as its subscription model develops. This is a high quality business generating attractive returns which looks compelling value at current levels.
Accounting software specialist Sage (LON:SGE), the UK’s largest listed software group and a constituent of our Ultimate Stocks portfolio, reported a 1.7% decline in revenue to £1.9bn for its financial year ending 30 September with underlying overall operating profit down 6.7% to £411m,. While disappointing, it’s worth remembering this was very challenging year for many of its customers and this still represents an operating margin of 23.2%.
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