Briefing: International Financial Reporting Sta...
22 September 2005
The Sage Group plc ('Sage')
Briefing on the transition to International Financial Reporting Standards
('IFRS')
Sage will today hold a briefing for analysts and investors to explain the
changes to Sage's financial reporting from the 2005/06 financial year onwards
as a result of the adoption of IFRS.
The briefing will outline the accounting and presentational changes to Sage's
reported results. The first results reported under IFRS will be for the six
months to 31 March 2006 and, subsequently, the 12 months to 30 September 2006.
The briefing will also include an IFRS restatement of the results for Sage's
last completed financial year, the 12 months to 30 September 2004. This will be
an unaudited restatement, to show approximate estimates of the principal
impacts of applying IFRS to this reporting period.
No new financial data for the year ended 30 September 2005, nor any
price-sensitive information, will be disclosed at the briefing.
Results for the 12 months to 30 September 2005 will first be reported under
prevailing UK GAAP on 30 November. These results will subsequently be restated
under IFRS during early 2006.
Today's full presentation will be available at 3pm this afternoon on the Sage
Group website, at www.sage.com/investors
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Contact:
The Sage Group
+44 (0) 191 294 3055
Paul Harrison, Finance Director
Phil Branston, Investor Relations
Tulchan Communications
+44 (0) 20 7353 4200
Julie Foster
Stephen Malthouse
Notes to editors:
The Sage Group plc is a leading international supplier of accounting and
business management software solutions and related products and services for
small to medium-sized enterprises. Formed in 1981, Sage was floated on the
London Stock Exchange in 1989 and the Group now employs over 9,000 people
worldwide.
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