Sage Group enjoyed a strong quarter as revenues reached 拢465 million.
The North East software giant saw revenues increase 7.6 per cent as its software subscription business grew 27.7 per cent to 拢237m.
Its recurring revenue for the three months to December 31st was 拢387m, up 10 per cent compared with the corresponding period a year before.
Sales from software and software-related services fell 5.8 per cent to 拢65m.
The firm鈥檚 North American market saw revenue growth of 10.4 per cent (拢154m) with 5.9 per cent revenue growth (拢96m) in the UK and Ireland.
This week the accountancy software company announced the sale of its US-based payroll outsourcing business for 拢78m.
Sage appointed an experienced finance veteran as its new chief financial officer in December having named a new CEO in November.
New CEO Steve Hare said: 鈥淲e have been encouraged by the strong start to FY19, reflecting the renewed focus on high-quality subscription and recurring revenue as we continue the journey to becoming a great SaaS business.
鈥淟ooking ahead we reiterate our full year guidance for FY19 as outlined at the FY18 results announcement.鈥�