Sage Group plc (GB:SGE) has released an update.
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Sage Group plc reported a robust financial performance for the year ending September 2024, with a 9% increase in underlying total revenue to £2,332 million, driven by significant growth in its subscription-based recurring revenue model. The company’s operating profit surged by 21% to £529 million, boosting its operating profit margin to 22.7%, while EBITDA grew by 16% to £622 million. Sage’s strong financial position is underscored by a proposed share buyback program of up to £400 million and a 6% increase in the full-year dividend, reflecting the company’s confidence in its future growth prospects.
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