14th Jul 2016 06:59
LONDON (Alliance News) - Software provider Micro Focus International PLC on Thursday said its pretax profit more than doubled in its recently-ended financial year thanks to strong revenue growth, but said it expected either a slight drop or flat revenue in its next financial year as it looks to implement its four-phase plan.
Micro Focus posted revenue of USD1.25 billion million for the year ended April 30, up from the USD83.5 million reported a year earlier, on the back of a strong performance from its SUSE product portfolio, offsetting anticipated revenue reductions in its Micro Focus product portfolio.
The growth meant its pretax profit more than doubled to USD195.4 million from USD91.4 million, an increase which was helped by lower operating costs as a result of integration benefits.
Micro Focus said its dividend for the full year was 66.68 cents per share, up from the 48.40 cents offered a year earlier.
The company said, however, that it did not expect revenue growth in its next financial year, as it looks to "stabilise revenues around a solid core from which we aim to grow in financial year 2018". This is in line with its previously announced strategic plan to simplify the underlying operations of the business.
As such, Micro Focus said revenue is expected to decline by up to 2.0% or stay flat in its next financial year.
"We look forward to the coming year with optimism and excitement about the opportunities to come. We remain absolutely focused on growing shareholder returns which we see as the true measure of growth," said Executive chairman Kevin Loosemore.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
MCRO.L