Sage Group Shares Surge After Exceeding Profit Expectations

The UK-based software company reports a 21% rise in profits, driven by strategic investments in AI and cloud services.

Sage Group's shares rose nearly 20% to an all-time high following a reported 21% increase in annual profits.
The company announced a £400 million share buyback and a 6% increase in its full-year dividend.
Annualized recurring revenue grew by 11%, surpassing analyst expectations, with a significant contribution from North America.
Sage has heavily invested in AI, introducing its Sage Copilot digital assistant to enhance customer productivity.
Looking ahead, Sage forecasts a 9% revenue growth for the upcoming financial year, continuing its focus on innovation and acquisitions.