Sage Revenue Ups By 6% Despite Slowdown
British accounting software groupSage has registered organic revenue growth of 6.6% for the three months ended December 31, 2015 despite slower growth outside its European monopoly.
- New York, NY (1888PressRelease) February 02, 2016 - Accounting software specialist also anticipates organic revenue growth of 6% for the complete financial year along with operating margin of 27% for the same period.
In order to achieve growth, the company is moving towards a strategic revamp where it will offer services for new "cloud" products without disturbing the existing base of customers. "The performance in the first quarter demonstrates continued momentum and was in line with expectations," says Chief Financial Officer Steve Hare.
New targets for the company have been set out by Stephen Kelly, chief executive officer. New targets include organic revenue growth of 6 per cent and 27% operating margin. The company has already initiated its efforts to meet the new goals from the last year. The company restated that it was on the track to achieve targets for 2016.
Last year, Sage declared its fiscal year output for 2014 and almost over half of its overall revenues of company generated from Sage's European business. On the other hand, about 1/3rd of revenue is generated fromthe company's North American business. Mr. Kelly believes that the next two years of the company should be seen as a "transition period". After this tenure, the company will aim for a faster growth.
"The results were in line with expectations. Our business transformation is on track and we are focused on its execution to realise our long-term plan for sustainable and improved quality growth," says Hare.
"Sage is seeking to 'leapfrog' first-generation cloud competitors through integrated latest generation cloud-platform products and through scalable digital distribution channels. Digital presence is vital to success," says George O'Connor, analyst at Panmure Gordon.
Sage is facing stiff challenges and competition from cloud and web-oriented accounting products from new startups. It is well known that conventional business of Sage is to install software in customers' offices for commercial purposes.
Intelli Atlas Inc offers a wide and exhaustive variety of Sage 50 Peachtree telephone and remote access technical support plans for resolving all issues and problems with the accounting software. Users of Sage software can expect Sage 50 support for the following versions of Sage 50 Peachtree4.0, 5.0, 6.0, 7.0, 8.0, 9.0, 10.0, 11.0, 12.0, and 13.0.
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Intelli Atlas, Inc. is an independent technical support providing company which offers customer-centric computer, software, printer, and hardware related services to consumers and small businesses. With offices in New York, the company offers instant computer assistance for computers, computer devices and computer apps. In addition, the company offers Server Monitoring, Virtual Private Networking(VPN), and managed IT Services. All trained technicians at Intelli Atlas helps you resolve computer issues with servers, networks, printers, desktops/laptops, wifi devices, routers, wan network and device drivers.
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Ref URL: http://www.marketwatch.com/story/sage-revenue-rises-66-confident-on-guidance-2016-01-27
http://www.ft.com/intl/cms/s/0/16406608-c4e4-11e5-b3b1-7b2481276e45.html#axzz3ytXKLtXG
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