Software company Sage's profit dips after cloud investment



© Reuters. FILE PHOTO: Oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port

LONDON (Reuters) – British software company Sage reported a 3.7% drop in full-year organic operating profit to 391 million pounds ($519 million) on Friday, reflecting investment in cloud services and a 17 million pound bad debt provision for COVID.

Statutory revenue for the year to Sept. 30 fell 1.7% to 1.90 billion pounds, broadly in line with market expectations.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

READ  Kia Motors considers suspending its No.1 plant in China - source

LEAVE A REPLY

Please enter your comment!
Please enter your name here