(Adds CEO comment, shares)
LONDON Nov 30 Software company Sage
said a rise in the number of customers subscribing to its
cloud-based small business accounting software helped full-year
operating profit increase 9 percent.
The British company said more than 1 million customers had
now signed up to its accounting, tax and wage processing
software based in the cloud, more than double the number two
Chief Executive Stephen Kelly said it was a "solid set" of
numbers, underpinned by 10.4 percent growth in recurring
Shares in Sage, which had drifted 11 percent from a 16-year
high of 761 pence last month, were trading up 1 percent at 682
pence at 0843 GMT.
Sage met forecasts with a 9 percent rise in full-year
operating profit to 427 million pounds ($532 million) for the
year to end-September on organic revenue up 6.1 percent at 1.57
It said on Wednesday it expected to grow organic revenue by
6 percent or better this year, and to again achieve an operating
margin of at least 27 percent.
($1 = 0.8021 pounds)
(Reporting by Paul Sandle, editing by Louise Heavens)