7th Apr 2015 07:36
LONDON (Alliance News) - FTSE 250-listed software developer Micro Focus International PLC on Tuesday confirms its guidance for the full year and updated on the integration plans for The Attachmate Group PLC, with plans to restructure its divisions and cut jobs.
Micro Focus maintained its pro-forma full-year revenue guidance of USD1.33 billion and its combined pro-forma underlying adjusted earnings before interest, taxation, depreciation and amortisation guidance of USD500 million, saying it has continued to trade in line with its expectations since the turn of the year on a constant currency basis.
The company also said it will shift its structure following the Attachmate acquisition, with one team to be dedicated to its SUSE enterprise server business and the remainder of its product portfolio to be managed under a single division headed by Chief Operating Officer Stephen Murdoch.
As a result of the restructuring, the company will cut the number of office locations it operates to 90 by April 2016, from 126 now. That will mean the company will be cutting jobs, with around 7.5% of its workforce to be cut. That comprises around 500 job cuts as a result of the restructuring, which will be partially offset by 150 new jobs.
Micro Focus said it expects to book restructuring charges in its 2015 and 2016 results.
Shares in Micro Focus were flat 1,183.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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