SAGE GROUP: H1 FY20 trading update: | NEUTRAL | 570p vs. 590p (+2%)
SAGE GROUP - NEUTRAL | 570p vs. 590p (+2%)H1 FY20 trading update:
H1 FY20 revenues are likely to be close to expectations
FY20 recurring growth guidance is unlikely to be achieved
The GBP250m share buy-back programme is cancelled
We shave our Fair Value to 570p from 590p
Sage Group is a technology provider that assists to manage businesses of all sizes. Co. provides a suite of cloud business management solutions and services including accounting, financials, enterprise management, people, payroll, payments and banking, as well as marketplace apps that can be provisioned to match the exact needs of any business. Co. has three reportable segments in which it operates, being Northern Europe (the U.K. and Ireland), Central and Southern Europe (Germany, Switzerland, Poland, France and Portugal) and NorthAmerica (the U.S., Canada and North America Intacct).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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