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Latest News

Financial targets achieved with momentum for sustainable growth

01 October 2015

Sage Australia Mirrors Global Growth

Global Headlines
  • Achieved organic revenue growth of 6% (FY14: 5%);
  • Increased organic recurring revenue by 9% (FY14: 7%), with software subscription the primary driver;
  • Software subscription contracts grown to over 690,000 (FY14: 450,000) and achieved 28% growth in the annualised value of the software subscriber base to £344m (FY14: £268m);
  • Increased the number of paying subscriptions for Sage One by over 100% to 173,000 (FY14: 86,000), and in the UK & Ireland, surpassed 100,000 paying subscriptions in November 2015.

Australia Headlines
  • Australia organic revenue growth of 5% 
  • Increased organic recurring revenue by 7%
Business review
  • Completed wide-ranging review of the business, including products, organisational structure, operating model and policies, in order to prepare for the next phase of long-term sustainable growth;
  • Simplified product categories to Growth and Heritage, with 87% of Research and Development investment focussed on the Growth category;   
  • Initiated organisational transformation to realise at least £50m of annualised run-rate cost savings by the end of FY16 to be reinvested for growth;
  • Refined revenue category definitions and amended the application of the revenue recognition policy to certain products enabling stakeholders to clearly and transparently track performance.  None of the changes impact cash generation and the financial summary below is included for comparability to previous announcements.

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