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Sage Group fiscal Q3 profit climbs YOY

The Sage Group plc said its normalized net income for the fiscal third quarter ended June 30 was 7 Great British pence per share, a gain from 7 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £74.1 million, an increase from £71.9 million in the year-earlier period.

The normalized profit margin dropped to 17.0% from 19.0% in the year-earlier period.

Total revenue grew 15.9% year over year to £437.5 million from £377.5 million, and total operating expenses grew 22.8% year over year to £312.0 million from £254.0 million.

Reported net income increased 36.1% year over year to £61.0 million, or 6 pence per share, from £44.8 million, or 4 pence per share.