Sage hikes dividend as cloud business takes off
Wednesday 04 December 2013
Investors cheered software firm Sage after the company announced plans to hiked its dividend and said it was on track to meet growth targets.
The Newcastle-based company, best known for its accountancy and payroll software, saw pre-tax profit fall 51% to £164.1 million in the year to September 30, due to the disposal of “non-core products” that cost it £188.2 million.
But the firm shot to the top of the FTSE on news that revenue grew 3% to £1.37 billion, on track to meet targets.
Chief executive Guy Berruyer said: “We believe we have momentum and will reach our target of 6 per cent organic growth by 2015.”
Berruyer said growth was driven by marketing new products to existing customers, such as online payment facilities and mobile apps that let people access the office remotely.
“Our growth is really driven by growing our existing customers rather than capturing additional market share,” Berruyer said.
Sage upped its dividend by 6 per cent. The shares jumped more than 9 per cent.
- 1 What happens to your body when you give up sugar?
- 2 Ed Miliband less influential than One Direction's Louis Tomlinson in official Doncaster power list
- 3 Japanese island overrun with cats after population explodes
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
California teacher appears to have hanged herself in her classroom
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
Bubonic plague-carrying fleas found on New York City rats
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£18k + Uncapped Commission (£25k Y1 OTE): Guru Careers: We are seeking an Inbo...