Newcastle-based software giant Sage Group, the UK’s largest tech company, said its “organic” operating profit rose 10.3% to £475 million as “organic” revenue rose 6.6% to £1.69 billion in the year to September 30.

In its outlook, Sage said: “The organic revenue definition for FY18 will include acquired businesses from the beginning of the financial year following their date of acquisition.

“During FY17, Sage acquired Fairsail (now Sage People) and Intacct (now Sage Intacct), which will now form part of organic revenue and, combined, are expected to add around 1% of revenue in FY18.

“On this basis management expects organic revenue growth for FY18 to be around 8%.”

Sage shares were trading about 2% higher at 788p, giving it a current stock market value of more than £8 billion.

Sage CEO Stephen Kelly said: “FY17 marks the completion of the transformation of Sage outlined at the June 2015 Capital Markets Day.

“For each of the past three years we have delivered management’s guidance for at least 6% organic revenue growth and 27% underlying operating margins, whilst fundamentally transforming Sage.

“We now have the leadership, organisational alignment, brand and comprehensive suite of cloud solutions, to accelerate momentum in our markets.

“The launch of Sage Business Cloud in October 2017 gives our customers the most comprehensive business management cloud platform in the market and provides the platform for this acceleration.

“We will continue to drive efficiencies and productivity throughout the organisation and this is now ‘business as usual’.”