Subscriptions lift software firm Sage as finance head departs

SAGE, the FTSE 100 software group, yesterday showed that a move to focus on selling subscription packages rather than its traditional off-the-shelf products had paid off.

The company, whose accounting software is used by millions of businesses, said subscriptions had risen fourfold in the past year, leading to a five per cent rise in half-year revenues to £708m.

However, it was struck by the loss of chief financial officer Paul Harrison, who is set to join UK tech firm WANdisco. Harrison lost out to Guy Berruyer for the chief executive role in 2010.