British enterprise software provider Sage Group on Wednesday reported a 12% rise in revenue to nearly £1.3 billion for the year ended Sept. 30, as a steady increase in subscription sales helped offset declines in other areas.
Stripping out £11.2 million attributable to acquisitions, revenue from the company’s continuing operations increased 10%. Earnings before interest, taxes, and amortization nudged up 6% to £299.8 million — all but £1 million of which came from continuing operations for the mid-market purveyor of ERP and CRM software.
The company reports financials for its first half and full year, without breaking out its second-half figures.
Sage CEO Paul Walker said in a statement, “We anticipate that the broader economic climate will remain uncertain for the near future.” Indeed, Sage closed its fiscal year in September, before the world economy took its most drastic downturn. “ However,” he continued, “our business model, together with consistently strong cash flows, robust balance sheet, and high level of recurring revenue streams, provides a solid foundation for our operations.”