Micro Focus expects stable performance in second half

Micro Focus International, the FTSE 250 business software firm, has said that trading in the three months ended January 31st was in line with management expectations.

The group's net debt position at the end of the period was $156m (October 31st 2011: $47.6m), reflecting further good operational cash generation during the quarter.

The company's expectations for the six months to April 30th (the company's fiscal second half) are that there will be a similar revenue and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) performance to that achieved in the first half of the financial year, at around $219m and $89m, respectively.

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