Software company Sage grew revenue to £1.9bn in the year to the end of September, it has announced.
The Tyneside-based giant saw a 5% revenue increase having attracted new customers throughout the period, particularly across its cloud products. Growth came from the firm's North American sales where recurring revenue grew by 14% to £779m, while its northern Europe territory saw recurring revenue growth of 7% to £419m while internationally the figure grew by 6% to £626m.
Annualised recurring revenue surpassed £2bn thanks to 12% growth - a performance Sage boss Steve Hare described as "fantastic". Statutory operating profit fell by 2% to £367m owing to higher gains on disposals - including Sage Switzerland and its South African payroll outsourcing - in the previous year.
