In Q3 19/20 (April-June 20), organic recurring revenue growth slowed significantly (+6.5% vs +10.3% in H1 19/20) but was less than expected. In particular, the customer churn was below the group’s anticipation. Conversely, the drop in SSRS & Processing revenue (-34.8% vs -19.6% in H1 19/20) was attributable to lower licence and services revenue. FY2019/20 guidance is favourable with organic recurring revenue growth of +7-8%, a decrease in SSRS & Processing revenue and an organic
23 Jul 2020
Resilient organic recurring revenue
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Resilient organic recurring revenue
Sage Group plc (SGE:LON) | 1,266 0 0.0% | Mkt Cap: 12,745m
- Published:
23 Jul 2020 -
Author:
Hélène Coumes -
Pages:
3
In Q3 19/20 (April-June 20), organic recurring revenue growth slowed significantly (+6.5% vs +10.3% in H1 19/20) but was less than expected. In particular, the customer churn was below the group’s anticipation. Conversely, the drop in SSRS & Processing revenue (-34.8% vs -19.6% in H1 19/20) was attributable to lower licence and services revenue. FY2019/20 guidance is favourable with organic recurring revenue growth of +7-8%, a decrease in SSRS & Processing revenue and an organic