LONDON (dpa-AFX) - Sage Group Plc (SGE.L), an accounting, financial, HR and payroll technology company, reported Tuesday that its third-quarter total revenue increased 9 percent to 585 million pounds from last year's 537 million pounds, driven by continued growth across the Sage Business Cloud portfolio.
In its trading update, the company said nine-month total revenue went up 9 percent on a reported basis as well as organically from last year to 1.74 billion pounds.
Sage Business Cloud revenue increased 16 percent to 1.39 billion pounds, driven by growth in cloud native revenue of 23 percent to 539 million pounds.
Regionally, revenue in North America grew 12 percent to 786 million pounds.
In the UKIA region, revenue grew 8 percent to 497 million pounds. In Europe, revenue increased 6 percent to 454 million pounds.
Recurring revenue increased 10 percent to 1.68 billion pounds, with software subscription revenue growth of 13 percent.
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