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
-
Why CEOs deserve a pay riseOpinion The CEOs of big companies often come under fire for being grossly overpaid. But the truth, as per some economists, is the opposite. Do they merit a pay rise?
-
Europe prepares to stand alone as Trump turns on UkraineSupport for old military alliances is wavering in the US under Donald Trump. Europe’s leaders are rushing to fill the void. Simon Wilson reports
