Sage Group surges as annual profit margins expand on cloud software sales
Portfolio Pulse from
Sage Group PLC shares surged 17% after reporting improved profit margins and announcing a £400 million share buyback. Revenue grew 7% to £2.3 billion, with underlying revenue up 9.3% and organic recurring revenue up 11%, aligning with analyst expectations.
November 20, 2024 | 9:00 am
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POSITIVE IMPACT
Sage Group's US-listed ADR, SGPYY, is likely to see a positive impact due to the company's improved profit margins, revenue growth, and a significant share buyback announcement.
The 17% surge in Sage Group's UK-listed shares suggests a positive market reaction to the company's financial performance and share buyback. This is likely to reflect similarly on its US-listed ADR, SGPYY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80