Sage still waiting for cloudy investments to make it rain as operating profit tumbles 10.5%
https://www.theregister.co.uk/2019/11/20/sage_2019_fy_results/
Operating profit at accountancy software biz Sage dropped 10.5 per cent year-on-year to £382m for the company's 2018/19 results ended 30 September due to an increased investment in its cloudy products.
Meanwhile, total revenue rose 4.9 per cent to £1.936bn and net debt fell from £668m in 2018 to £393m. In contrast, in fiscal 2017/18 operating profit rose 22.7 per cent to £427m, on a revenue increase of 6.8 per cent to £1.846bn.