Sage Group's Growth Moderation in Line With Previous Trend -- Market Talk

Dow Jones07-30

0826 GMT - Sage Group's growth rates are showing continued signs of moderation, despite organic revenue growth in the third quarter, J.P. Morgan Cazenove analysts write in a research note. The London-listed software group's results shows that the gradual deceleration of year-on-year annualized recurring revenue growth observed in the first half continued into the quarter, the analysts say. "With annualized recurring revenue growing continuing to moderate, this does indicate that growth rates could also continue to moderate until we see a stabilization in the ARR growth rates," they add. Shares are down 3.6% at 1,047 pence. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

July 30, 2024 04:26 ET (08:26 GMT)

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