100s of titles, one news app for just $10 a month.
Dive Deeper:
CEO of software giant Sage says economic uncertainty could spur digitisation of smaller firms
Steve Hare said that while inflationary pressures and looming recession weighed on businesses, a counter trend of digitisation was occurring
Sage boss says sales resilient despite uncertain economic backdrop
The boss of global software giant Sage Group has said the uncertain economic and geopolitical environment is not affecting sales…
Leafly Holdings Reports Q1 2022 Financial Results, Total Revenue $11.4M, Up 21% From Q1 2021
Leafly Holdings, Inc. (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers announced its financial results…
Boohoo's 'prospects look good' despite City analyst dropping target share price
Boohoo's brands include BoohooMAN, Karen Millen, Nasty Gal, PrettyLittleThing, Coast, Misspap, Oasis, Warehouse, Burton, Wallis, Dorothy Perkins and Debenhams
One subscription that gives you access to news from hundreds of sites
Funeral director Dignity hit by drop in Covid deaths
The group conducted 21,200 funerals in the first 13 weeks of the year
UK economy shrank 0.1% in March as inflation and Ukraine war takes toll
Risk of recession increases as economy goes into reverse, piling pressure on chancellor to offer help to struggling families
Get all your news in one place
Latest Technology news:
Musk and Bezos Agree on Who Is Responsible for Inflation
The two richest men in the world appear to have teamed up against a common adversary.
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Cadillac Lyriq To Come With 2 Years Of Free Charging On EVgo Network
We examine the announcement that the 2023 Cadillac Lyriq will come with two years of unlimited free charging on the…
Tesla Model 3 RWD 5-Year Cost Of Ownership Versus Toyota Camry
The Tesla's 2021 Impact Report highlights a very interesting presentation of the total cost of ownership of the entry-level 2021…
Boeing’s Starliner spacecraft takes another shot at the International Space Station
In this edition of Horizons, learn about Boeing's Starliner capsule test, mRNA vaccine technology updates, and more from the world…
New PS Plus games list exposes a major flaw in Sony's Game Pass rival
Sony has shared a list of some of the game available on its new PS Plus service, but there's a…
From analysis to good news, read the world’s best news in one place
Urban Drivestyle And SNIPES Collab To Release Two Limited-Edition E-Bikes
Boutique e-bike manufacturer Urban Drivestyle has joined forces with SNIPES for a unique lineup of electric bicycles.
ABB And Shell Announce Nationwide Deployment Of 360 kW Chargers In Germany
Germany soon will get a major boost to its DC fast charging infrastructure to support the electrification of the market.

Software giant Sage acquires UK cashflow firm as revenues rise

By Tom Keighley

Software company Sage has reported a rise in recurring revenue thanks to sales of its cloud suite of products, and announced the purchase of UK-based Futrli.

The North Tyneside-based FTSE 100 firm said organic recurring revenue grew 8% to £866m, from £800m, in the six months to the end of March this year.

Underlying revenue growth was most significant across North America with a 10% rise to £377m, while its northern Europe business grew 7% to £212m, and its international revenue fell by 9% to £346m.

Read more: Major pharmaceutical distributor collapses into administration with 1,000 jobs lost

Sage said its organic operating profit beat expectations, rising 4% to £184m, while its underlying operating profit fell from £188m to £183m during the period due to £18m of amortisation associated with acquisitions, £15m of merger and acquisition related charges and a £1m deferred income adjustment from its purchase of Brightpearl.

In November last year, Sage completed the disposal of its Swiss business and in April, it disposed of its South African payroll outsourcing business. The move was said to allow resources to be focused on fewer, larger geographies.

Meanwhile, Sage completed the acquisition of UK cashflow forecasting tool Futrli which uses algorithms to provides forecasts based on data-analysed historical trends, using invoices, bills, journals, cash, and payment data – enabling customers to visualise the past, present, and future of their business.

Neal Watkins, EVP Product at Sage, said: "Futrli will form an important role in the way we support accountants and their clients to gain the visibility needed to deliver great advisory services - all as part of our Sage for Accountants solution."

In announcement to shareholders about Sage results, CEO Steve Hare said: "We achieved a strong first half performance, in line with expectations, demonstrating sustainable growth and building further momentum. Our strategic investment in sales, marketing and innovation has continued to accelerate revenues across Sage Business Cloud, underpinned by increasing levels of new customer acquisition. Cloud native solutions, which now account for around a quarter of Group ARR, have performed particularly well.

"While we are mindful of increased macroeconomic and geopolitical uncertainties, our customers remain confident and resilient. Our aim is to knock down barriers to their success, delivering solutions that make their lives easier, and we continue to make good progress against our strategic objectives.

"I am confident that our ambition to become the trusted network for small and mid-sized businesses will drive the success of Sage, as we focus on growing both revenue and earnings in absolute terms."

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
CEO of software giant Sage says economic uncertainty could spur digitisation of smaller firms
Steve Hare said that while inflationary pressures and looming recession weighed on businesses, a counter trend of digitisation was occurring
Sage boss says sales resilient despite uncertain economic backdrop
The boss of global software giant Sage Group has said the uncertain economic and geopolitical environment is not affecting sales…
Leafly Holdings Reports Q1 2022 Financial Results, Total Revenue $11.4M, Up 21% From Q1 2021
Leafly Holdings, Inc. (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers announced its financial results…
Boohoo's 'prospects look good' despite City analyst dropping target share price
Boohoo's brands include BoohooMAN, Karen Millen, Nasty Gal, PrettyLittleThing, Coast, Misspap, Oasis, Warehouse, Burton, Wallis, Dorothy Perkins and Debenhams
One subscription that gives you access to news from hundreds of sites
Funeral director Dignity hit by drop in Covid deaths
The group conducted 21,200 funerals in the first 13 weeks of the year
UK economy shrank 0.1% in March as inflation and Ukraine war takes toll
Risk of recession increases as economy goes into reverse, piling pressure on chancellor to offer help to struggling families
Get all your news in one place