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Micro Focus Warns On FY Revenue; To Accelerate Strategic Review

Micro Focus International plc (MFGP,MCRO.L), in its trading update for the 12 months ending 31 October 2019, said that it does not expect to meet its fiscal year constant currency revenue guidance, citing weak sales execution compounded by a deteriorating economic environment.

The company also said it has decided to accelerate a strategic review of its operations. It will consider a range of strategic, operational and financial alternatives available to the company.

The company now expects constant currency revenue for the year ending 31 October 2019 to be minus 6% to minus 8%, compared to prior estimation of minus 4% to minus 6%.

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