24th Sep 2009 13:00
Thursday 24 September 2009
AGM Statement
Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), the Enterprise Application Modernisation and Testing software company, holds its AGM at 3.00pm today at which the following statement will be made by the Group's non-executive Chairman, Kevin Loosemore:
"In line with recent updates, the trading outlook across the Group remains consistent with the Company's first quarter IMS. The acquisitions of Borland and the Testing/ASQ assets of Compuware have now been completed, giving the Group a strong position in the complementary Testing/ASQ market. The integration of both acquisitions is going well and, as previously announced, the twelve month run-rate revenue contribution for both acquisitions is expected be in the region of $150m, with combined EBITDA margins of approximately 15% in the first year of ownership. The ambition is for margins of these acquisitions to be expanded over the longer term towards the Group target of approximately 40%."
Micro Focus will host an equity analyst and investor strategy meeting in London on 28 September 2009, at which no new material information will be disclosed. Copies of the slides provided during the course of the day will be available on the Company's website (www.microfocus.com) on that date.
Micro Focus will announce a pre-close trading update for the six months to 31 October 2009 on Wednesday 11 November 2009.
Enquiries:
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Micro Focus |
Tel: +44 (0)1635 32646 |
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Nick Bray, Chief Financial Officer |
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Tim Brill, Head of Corporate Communications & IR |
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Financial Dynamics |
Tel: +44 (0)20 7831 3113 |
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Charles Palmer/Haya Herbert-Burns/Nicola Biles |
Notes to editors:
About Micro Focus
Micro Focus, a member of the FTSE 250, provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization, Management and Testing software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visit www.microfocus.com.
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