Sage reported its annual results today for year to September 2014. Sage doesn’t break out the financial reporting of its European payments business (Sage Pay) but there were a couple of interesting comments provided.
Revenue was up a respectable 7%. This was sharply lower than the 25% increase seen in 12/13 but that was “primarily due to a price increase.” Sage state that the “payments landscape in the UK is highly competitive and this has impacted the rate of new customer acquisition.”
Sage say that cross-selling payments into the accounting customer base is a priority but has been running “below expectation”. However, it still reported 14% growth to 15.800 in customers taking “integrated payments.” This is defined as those taking a “Sage core accounting system, a Sage payments solution, and the integration of the two is provided or owned by Sage.”