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2020-12-09 08:45:00
The software firm has agreed to sell the business to private equity group Mid Europa Partners for £66mln in cash
The Sage Group PLC - Sage Group inks deal for sale of Polish business
Sage Group PLC (LON:SGE) said it has entered an agreement to sell its Polish business to private equity firm Mid Europa Partners after saying the business had been held for sale in its results in November.
The FTSE 100 software firm said it will be paid £66mln in cash for the business, payable on completion of the transaction which is expected in early 2021.
https://uk.finance.yahoo.com/news/uk-tech-stock-looks-too-084503299.html
(Sharecast News) - Accounting software firm Sage lifted its dividend as it reported a 8.5% rise in organic recurring revenue to £1.6bn, driven by growth from existing and new customers, in North America and Northern Europe.
Total revenue rose 3.7% to £1.76bn. Sage said the result was underpinned by software subscription revenue growth of 20.5% to £1.14bn. Sage guided for organic recurring revenue growth for fiscal 2021 to be 3% - 5%, weighted towards the second half of the year.
Statutory revenue for the year to September 30 fell 1.7% to £1.90bn. The full-year dividend was increased 2% to 17.25p a share.
Organic operating profit fell 3.7% to £391m, reflecting investment in cloud services and a £17m bad debt provision for Covid-19.
2020 results look good.