Sage Group have announced an interim dividend of 6.55p per share that will be paid on 23 June 2023 to shareholders on the register at the close of business on 2 June 2023. The Company's distributable reserves are sufficient to support the payment of this dividend. This condensed consolidated half-yearly financial report does not reflect this proposed dividend payable.
Other financial highlights include:
Underlying operating profit increased by 14% to £227m, with margin increasing by 60 basis points to 20.8% driven by operating efficiencies as we scale the Group.
EBITDA increased by 13% to £275m, with margin increasing by 60 basis points to 25.2%.
Statutory operating profit decreased by 23% to £157m due to the change in recurring and non recurring items, including a £49m one-off gain in the prior period relating to the disposal of Sage Switzerland.
Underlying basic EPS up 13% to 15.68p, reflecting the growth in underlying operating profit.
Continued strong cash performance, with cash conversion of 117% reflecting growth in subscription revenue and continued good working capital management.
Robust balance sheet, with £1.2bn of cash and available liquidity and net debt to EBITDA of 1.3x.
