Micro Focus International profit boosted by sale of enterprise software business
Source - SMW
Software group Micro Focus International said its first-half profit more than doubled after it booked a gain on the sale of its SUSE open-source enterprise software business.
Net profit for the six months through April jumped to $1.40bn, up from $619.7m on-year.
Revenue fell 7.5% to $1.66bn, which the company said was in line with its guidance.
Revenue guidance for the full year was kept at a fall of between 4% and 6%.
Adjusted revenue fell 5.3% to $1.66bn, while adjusted Ebitda rose 1.8% to $662.3m.
Micro Focus International held its interim dividend steady at 58.33c per share.
'We have made steady progress this half year, delivering against our financial and operational commitments and doing what the company does best: making, selling and supporting infrastructure software solutions that customers value and rely on,' chief executive Stephen Murdoch said.
'Micro Focus helps customers around the world to drive further returns from their existing investments while also taking advantage of new technologies and innovations to support their digital transformation.'
'We have continued to make progress on our significant program of work to fully integrate the HPE Software business through the sustained application of the Micro Focus business model.'
'As a result, we are pleased to reiterate full-year guidance.'