Sage sticks to revenue growth target before uptick in 2-3 years

LONDON, June 24 (Reuters) - British software company Sage said on Wednesday it had improved its ability to cross-sell products and is targeting new start-ups with online software to drive revenue growth in the medium term.

The company maintained its target of growing organic revenue by 6 percent a year, with an operating margin of 28 percent, for the next two to three years while more of its 6 million customers moved to subscriptions.

"Once we get through the transitional period, and we get to the targeted level of recurring revenue, then the growth rate will pick up," Chief Financial Officer Steve Hare told reporters. "The same is true of our operating margin." (Reporting by Paul Sandle; Editing by Susan Fenton)