Sage Group plc announce an interim dividend of 6.95p per share will be paid on 28 June 2024 to shareholders on the register at the close of business on 31 May 2024. The Company's distributable reserves are sufficient to support the payment of this dividend. This condensed consolidated half-yearly financial statement does not reflect this proposed dividend payable.
Other financial highlights include:
Underlying total revenue increased by 10% to £1,152m, reflecting continued robust demand for their solutions and services.
Underlying operating profit increased by 18% to £254m, with margin increasing by 160 basis points to 22.0% driven by operating efficiencies as they scale the business.
EBITDA increased by 14% to £299m, with margin increasing by 100 basis points to 25.9%.
Statutory operating profit increased by 38% to £215m reflecting growth in underlying operating profit together with lower restructuring and M&A-related charges.
Underlying basic EPS increased by 23% to 18.2p.
Strong underlying cash conversion of 127%, reflecting continued growth in subscription revenue and good working capital management.
Robust balance sheet, with £1.1bn of cash and available liquidity, and net debt to EBITDA of 1.4x.
