Nov 17, 2021 / 08:30AM GMT
Stephen Hare - The Sage Group plc - CEO & Executive Director
Hello and a warm welcome to Sage's 2021 full year results. Now before I hand over to Jonathan for the financial review, I'd like to start with an overview of our key messages for today, starting with our performance during the year.
Sage performed strongly in FY '21, and I'm really pleased with what we've achieved. Having decided to invest more in the business, we accelerated growth, building momentum in all regions. We grew recurring revenue by over 5% and annualized recurring revenue by almost 8%. And importantly, this was driven by cloud-native ARR growth of 44%, the fastest it's been since 2017. We've added GBP 140 million of ARR from new customers, and that's more than 50% higher than FY '20. And supported by a continued strong performance in cloud connected, Sage Business Cloud revenue has now reached GBP 1 billion, up 19% on last year.
On our strategic progress, we've continued to transform the group over the last 3 years. We've invested in our people, our customer experience and our technology to build a strong
Full Year 2021 Sage Group PLC Earnings Call Transcript
Feb 14, 2024
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