Sage hits £1bn cloud sales - but the UK software giant divides opinion among investors

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The company is under scrutiny over whether it can migrate its business to a subscription model and adapt to providing its services via the cloud.

At a headline level, operating profits during the year to the end of September were down 8% to £373m, reflecting the investment required to complete that transition.Shares are up by more than a third so far this year

Mr Hare said this not only made Sage's earnings more predictable, it also would also be more convenient for customers, who would have a better idea of what they would be paying for such services in advance. He added:"As we look both at slightly larger businesses, where the customer is largely the chief financial officer, down to the smaller sole trader, we're looking across the whole of what happens in a back office - what is it that people spend their time on that has nothing, really, to do with running their business?"We want to release people so they can run their business and in the case of finance people, that they can look forward rather than backwards - so it's about...

 

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