Sage drops sharply after chief projects

24th Jun 2015 16:19

Shares in Sage came off sharply after the company's chief told analysts not to expect an acceleration in the rate of top-line growth.Chief executive officer Stephen Kelly said the business software developer would "shift investment materially" over the next two to three years.He was speaking at the outfit's Capital Markets Day.Nonetheless, he expects the firm will be able to maintain an annual rate of organic revenue growth of 6% and operating profit margins of 28%, in-line with management's plans for 2015."Beyond the transition period, we expect revenue growth to accelerate and the operating margin to expand," Kelly added.As of 16:08 shares in the company were 6.38% lower at 514p.