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Micro Focus Stock Dips On FY19 Loss; Names Greg Lock Chairman - Quick Facts

Shares of Micro Focus International plc (MCRO.L, MFGP) were losing around 13 percent in the early morning trading in London after the enterprise software company reported Tuesday a loss in its fiscal year 2019.

For the year, loss before tax was $34.1 million, compared to a loss of $78.5 million last year. In the 18 months ended October 31, 2018, the company's profit before tax was $34.1 million.

Profit for the period climbed to $1.47 billion from last year's $677.7 million, including the profit on disposal of SUSE.

On a continuing operations basis, loss was $18.1 million or 4.87 cents per share, compared to last year's profit of $622 million.

Adjusted earnings per share continuing operations were 195.89 cents, compared to 187.51 cents last year.

For the 12 months ended October 31, revenues were $3.35 billion, down from $3.68 billion last year. Revenues declined 7.3% on a constant currency basis.

Further, the company announced final dividend per share of 58.33 cents, taking total dividend for the year to 116.66 cents.

Micro Focus also announced the initial findings of the Strategic & Operational Review, which was launched in August 2019.

The company further announced the appointment of Greg Lock as non-executive Chairman on February 14. Lock succeeds Kevin Loosemore, who will be standing down as Chairman on February 14, after 15 years in the role.

In London, Micro Focus shares were trading at 862.24 pence, down 12.60 percent.

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