UK software firm Sage Group reports 21% rise in profit

LONDON : Britain’s Sage Group reported a better-than-expected 21 per cent rise in full-year operating profit to 529 million pounds ($672 million) driven by a 220 basis points margin increase, and said it expected continued margin progress this year.
The company, whose accountancy software is used by millions of small businesses, on Wednesday reported a 9 per cent rise in revenue to 2.3 billion pounds for the year to end-September.
($1 = 0.7872 pounds)