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Profit falls 31% at software group Sage Sage shares rose on Friday after the news (Luciana Guerra/PA) Profit has tumbled by nearly a third in the last half-year at software giant Sage, but it also expects to reach the upper end of forecasts this year. The business said that pre-tax profit dropped 31% to £190 million in the six months to the end of March. Revenue also dropped, by 4% to £937 million. However, the business pointed to its organic recurring revenue, a separate measure which essentially catches subscriptions. This rose 4.4% to £811 million over the period. “Sage performed strongly in the first half against tough comparators, with continued recurring revenue growth and increasing levels of new customer acquisition, principally in cloud native solutions,” said chief executive Steve Hare.

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