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Micro Focus HY Pre-tax Loss Narrows; Backs FY Revenue Guidance

Micro Focus International plc (MCRO.L, MFGP), the international software product group, reported that its loss before tax for the six months ended 30 April 2019 narrowed to $99.6 million from $100.9 million last year.

Loss from continuing operations was $78.3 million, compared to profit of $600.0 million in the previous year.

Micro said, "During the period, we completed the sale of the SUSE business and as a result returned $1,800.0m to shareholders. This transaction is an excellent proof point of the effectiveness of Micro Focus' portfolio management approach."

Profit attributable to equity shareholders of the parent for the six months ended 30 April 2019 surged to $1.40 billion from $620 million last year. Earnings per share grew to 322.74 cents from 136.90 cents in the prior year.

Adjusted earnings per share improved to 92.69 cents from 86.62 cents last year.

But, revenues for the period decreased to $1.66 billion from $1.79 billion in the previous year.

The company announced that the interim dividend will be 58.33 cents. The dividend will be paid on 30 September 2019 to shareholders on the register as at 6 September 2019.

The company reiterated its constant currency revenue guidance for the 12 months to 31 October 2019 of minus 4% to minus 6% compared to the 12 months ended 31 October 2018.

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