Aug 02, 2022 / 07:30AM GMT
Operator
Good morning, everyone. Welcome to the Q3 trading update call for The Sage Group. Your presenter today will be Jonathan Howell, Chief Financial Officer; who is joined by James Sandford, Head of Investor Relations. (Operator Instructions)
I would now like to hand the conference over to Mr. Howell. Please go ahead.
Jonathan Anton George Howell - The Sage Group plc - CFO & Director
Thank you very much. Good morning, everyone, and welcome to Sage's Q3 trading update. First, I'll run through the key numbers and the performance of the business. And after that, we can open for Q&A. And as a reminder, all numbers in the trading statement are on an organic basis.
Sage performed strongly in the first 9 months as we continued to deliver against our strategic priorities. Recurring revenue increased by 9% to over GBP 1.3 billion, driven by Sage Business Cloud growth of 20% to GBP 886 million. Software subscription revenue grew by 14% to GBP 1.1 billion. As a result, 3/4 of our total revenue is now on subscription, up from 69% last year.
Q3 2022 Sage Group PLC Trading Statement Call Transcript
Feb 14, 2024
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