Legacy software specialist Micro Focus International had mixed news for the market on the revenue front but half year earnings have been better than market forecasts.
Revenues in the six months to the end of October were in line with market expectations and previous guidance issued by the group while adjusted earnings before interest, tax, depreciation and amortisation were ahead of market expectations.
On a constant currency basis, both Licence Fee Revenues and Maintenance Fee Revenues were at the same level in the reporting period as last year, and the aggregate of these two revenue types is above market expectations. Consistent with the strategy of the group, Consultancy Fee Revenues are significantly below last year, and are below market expectations.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Net debt at the end of October was down to $96.2m from $113.2m but the group reminded shareholders it is about to return $129.3m (50p per share) to them on November 12th.
JH
-
BoE: Millions of mortgage borrowers will be hit with higher repayments next yearNews Higher interest rates are yet to fully hit households and monthly mortgage repayments will rise between £200 and £1,000 – how much will your home loan go up by?
-
Halifax: House prices rise for the second consecutive month
UK house prices rose again in November, suggesting a resilient property market amid economic turmoil in the past year- are we heading for a crash?
