UPDATE 2-Sage profit up, expects to weather tough times

* Sales rise 7 percent, in line with forecasts

* Adjusted pretax 273.4 million pounds, just below consensus

* Says subscription sales offsetting software weakness

(Adds Chief Executive comments, analyst reaction, shares)

By Paul Sandle

LONDON, Dec 3 (Reuters) - British software firm Sage Group Plc (SGE.L) reported a 3 percent rise in underlying full-year profit, slightly below expectations, but said its market position would allow it to weather difficult economic times.

Chief Executive Paul Walker said software sales had started to slow in the United States and Britain in the second half but subscriptions, many of which include support packages, were holding up.

"We have to acknowledge that visibility is difficult," he told reporters on Wednesday.

"But 61 percent of revenue is from subscription contracts (and) there is no evidence that customers are trading down. We see that 61 percent of the business in good health."