Sage Group (The) PLC (CHIX:SGEl)
£ 13.0525 -0.0575 (-0.44%) Market Cap: 12.91 Bil Enterprise Value: 13.65 Bil PE Ratio: 41.73 PB Ratio: 11.98 GF Score: 76/100
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Half Year 2021 Sage Group PLC Earnings Call Transcript

May 14, 2021 / 07:30AM GMT
Release Date Price: £6.45 (+3.30%)
Stephen Hare
The Sage Group plc - CEO & Executive Director

Good morning, and a warm welcome to Sage's 2021 First Half Results Presentation. I'm going to start with a few brief opening remarks, and then Jonathan will take you through the numbers. I'll then come back and update you on Sage's strategic progress and outlook and give some insight into the momentum that we've created.

So let's start with the highlights. Sage has had a good first half despite the continued disruption during the period, and I'm pleased with the progress. We've achieved recurring revenue growth of 4.4%, and this is in the upper half of our guidance range for the full year. We grew ARR by 4.2%, and our growth strengthened during the period. In the second quarter, Sage increased sequential ARR at the fastest rate since the end of FY '19. And importantly, this was driven by cloud native ARR growth of 36%. This, in turn, was underpinned by increasing levels of new customer acquisition and supported by migrations. This is in line with the strategic priorities that we set out at our FY '20 results in November.

So

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