November 20, 2019 / 7:39 AM / 19 days ago

British software firm Sage's full-year profit dips

LONDON, Nov 20 (Reuters) - British software company Sage reported a 13% drop in full-year organic operating profit to 432 million pounds ($558 million) on Wednesday as its margin was squeezed by increased investment in its cloud and subscription products.

The company, which provides accounting and other software to small and medium sized businesses, reported a 5.6% rise in organic revenue for the year to end-September to 1.82 billion pounds, slightly ahead of analysts’ forecasts of 5.4% growth. ($1 = 0.7744 pounds) (Reporting by Paul Sandle; editing by James Davey)

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