Sage Group revenues up 3pc to stg£1.3bn

5 Dec 2013

Business software player Sage has reported revenues of stg£1.3bn for the year, up 3pc on last year. The UK and Ireland market contributed a growth of 5pc over the European average of 2pc.

v said the growth is driven by a strong acceleration in the adoption of Sage One, Sage’s key small business offering which has over 21,000 paying subscribers in the UK & Ireland, an increase of more than three-fold in 12 months. 

Investment by the company in its cloud product portfolio is also delivering results and creating a strong platform for growth in the year ahead, the company said.

Commenting on the UK & Ireland results Brendan Flattery, CEO of Sage UKI said:  “In Ireland, our growth reflects a stronger SME environment and a trend by businesses to invest in software that can make a difference to their bottom line by allowing them to accurately track financial performance, manage cash flow, sales and product performance.   

“Looking ahead to 2014, we expect further growth in this area, particularly following the commercial launch in October 2013 of Sage One Accounts Extra, which targets businesses in the five to 25-employee space.  In tandem with our marketing around the launch of Sage One Accounts Extra, we have seen an increase in adoption of Sage One Accountant Edition, with accountants recognising the opportunity this product offers them to expand their practices.” 

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years