Latest news with #SteveHare
The Independent
15-05-2025
- Business
- The Independent
Sage sees profits jump but signals more ‘uncertain' global backdrop
Accounting software group Sage has notched up a 16% jump in half-year profits amid a boom in customer demand for AI-powered tools, but flagged a more 'volatile and uncertain' backdrop. The firm reported pre-tax profits of £236 million for the six months to March 31, up from £203 million a year ago. Chief executive Steve Hare said strong demand for AI technology was helping boost business, with its generative AI-powered software – Sage Copilot – now boasting 40,000 customers in the UK a year after launch. But he said the group was trading in a 'more volatile and uncertain macroeconomic environment' as global tariff uncertainty weighs on sentiment. Shares in the Newcastle-based firm fell 5% in Thursday afternoon trading, with analysts pointing to disappointment over the lack of any upgrade in the full-year outlook after the robust first half. He told the PA news agency the group had not seen any change in behaviour yet among its small and medium-sized firms in the UK and US due to the global outlook worries. But he said uncertainty was 'not particularly helpful when you're trying to persuade business leaders to invest and take a longer term view'. He added: 'It's more helpful when it's a stable and more positive environment. 'There's always the risk that people are more cautious when things are uncertain.' The group said it was not set for a direct impact from the US tariffs being put in place by President Donald Trump, although Mr Hare said he was having 'to be very alert and watch the ever-changing landscape'.
Yahoo
15-05-2025
- Business
- Yahoo
Tariff 'noise' makes business customers slow to spend, says UK's Sage
LONDON (Reuters) -British software company Sage said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast. The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year. Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious. "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest." Shares in Sage fell 5% in early deals, wiping out the gains they had made this month. The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half. Its margin increased by 140 points to 23.2%. Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses. Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said. ($1 = 0.7531 pounds) Sign in to access your portfolio
Reuters
15-05-2025
- Business
- Reuters
Tariff 'noise' makes business customers slow to spend, says UK's Sage
LONDON, May 15 (Reuters) - British software company Sage (SGE.L), opens new tab said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast. The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year. Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious. "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest." Shares in Sage fell 5% in early deals, wiping out the gains they had made this month. The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half. Its margin increased by 140 points to 23.2%. Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses. Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said. ($1 = 0.7531 pounds)
Yahoo
15-05-2025
- Business
- Yahoo
Tariff 'noise' makes business customers slow to spend, says UK's Sage
LONDON (Reuters) -British software company Sage said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast. The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year. Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious. "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest." Shares in Sage fell 5% in early deals, wiping out the gains they had made this month. The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half. Its margin increased by 140 points to 23.2%. Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses. Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said. ($1 = 0.7531 pounds) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
