Sage updated the Stock Exchange on its first half trading this morning, saying it was on track to fulfil expectations.

For the six months ended 31 March 2006, Sage expects to bring in revenues of £444m and profits of £115m. It expects to make a pre-tax profit of £111m. This is the first period Sage will report under International Financial Reporting Standards.

The accountancy giant will post full results on 9 May.

Sage shares were trading slightly down at 264.50 pence this morning.

Visma, which Sage offered to buy for £334m last month, has delayed making a statement on the takeover until tomorrow. Visma's board recommended the offer in the short and medium term.

Read the whole statement here. ®