Sage Group Drops Most in 24 Years Over Surprise Warning
- Hit by decline in recurring revenue and drop in licenses
- 2018 full year guidance has been revised to around 7 percent
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Sage Group Plc fell by the most in over 24 years Friday, after the U.K.’s largest software company posted a surprise warning that sales had failed to hit expectations.
Shares fell by 20 percent in London, the biggest drop since July 1993, after the company said growth will be hit by a decline in recurring revenue and poor performance in its enterprise software business.