Sage says small business customers remain ‘resilient’
- H1 recurring revenue rises 8%, on track for year
- H1 operating profit meets expectations with 4% rise
- Says small business customers remain confident
LONDON, May 13 (Reuters) – British software company Sage (SGE.L) said momentum in its cloud business would keep organic recurring revenue motoring in the second half as its customers turn to its digital products to help adapt to tougher economic conditions.
The company, which provides accounting and other software to small and medium-sized businesses (SMBs), met market expectations on Friday with an 8% rise in organic recurring revenue in the six months to end-March.
Chief Executive Steve Hare said SMBs were still confident about their own prospects even as the economic backdrop in Britain and Sage’s other markets darkened.
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“They feel they’ve become a lot more adaptable and resilient over the last couple of years,” he said in an…
