Further progress with global products
‒ Sage One now available in 14 countries following launches in Australia, Brazil and Malaysia;
‒ Launched Sage Live, our global cloud solution for Small & Medium Businesses, via newly established Customer Business Centres (CBCs);
‒ Delivered 11% organic revenue growth for Sage X3, with growth of 22% outside of France and launched X3 Cloud.
Earnings improved
‒ Increased the organic operating margin to 27.1% (FY14: 26.5%), despite incurring initial costs of transformation;
‒ Underlying cash conversion of 106%, achieved through continued disciplined capital management, generating free cash flow of £296m (FY14: £229m) and supporting the 8% increase of the full year dividend to 13.10p.
Stephen Kelly, Chief Executive Officer said: "We are pleased to have met the financial targets set three years ago. We have already begun the transformation outlined at the Capital Markets Day in June 2015 and highlight today clear signs of early progress.
"Transformation is rarely linear and it is clear we have much to do as we manage the operational risks. Our balanced and sequenced approach, the experience of the management team, and the strong underlying characteristics of the business give me confidence in the delivery of long term, sustainable, high quality growth."
