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Sage Group profit misses consensus by 38.7% in fiscal H1

The Sage Group plc said its normalized net income for the fiscal first half ended March 31 came to 10 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 16 pence per share.

EPS rose 35.2% year over year from 7 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £105.0 million, an increase of 35.5% from £77.5 million in the year-earlier period.

Total revenue climbed 22.8% on an annual basis to £840.0 million from £684.0 million, and total operating expenses rose 20.2% from the prior-year period to £660.0 million from £549.0 million.

Reported net income increased 38.4% from the prior-year period to £135.7 million, or 13 pence per share, from £98.0 million, or 9 pence per share.