January 24, 2018 / 7:15 AM / 4 months ago

BRIEF-Sage posts 6 pct Q1 revenue growth, in line with expectations

Jan 24 (Reuters) - Sage Group Plc:

* ‍GROUP ORGANIC REVENUE 1 INCREASED BY 6.3% FOR FIRST THREE MONTHS OF YEAR.​

* ‍ORGANIC RECURRING REVENUE GREW BY 7%, UNDERPINNED BY SOFTWARE SUBSCRIPTION GROWTH OF 26%​

* ‍Q1 RESULTS ARE IN LINE WITH OUR EXPECTATIONS​

* ‍WE EXPECT ACCELERATION THROUGHOUT YEAR INCLUDING A STRONGER Q2 AND WE REITERATE OUR FULL YEAR GUIDANCE OF AROUND 8% ORGANIC REVENUE GROWTH AND AROUND 27.5% ORGANIC OPERATING MARGIN FOR FY18​ Source text for Eikon: Further company coverage: (Reporting By London Bureau)

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