8th Nov 2012 07:00
8 November 2012
Micro Focus International plc
Trading update for the six months ended 31 October 2012
Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L) provides a trading update for the six months ended 31 October 2012.
Revenues and Adjusted EBITDA
Revenues in the six months ended 31 October 2012 are in line with market expectations and previous guidance given by the Group. On a constant currency basis both Licence Fee Revenues and Maintenance Fee Revenues are at the same level as last year and the aggregate of these two revenue types is above market expectations. Consistent with the strategy of the Group, Consultancy Fee Revenues are significantly below last year, and are below market expectations.
Adjusted EBITDA for the six months to 31 October 2012 is ahead of market expectations for the period.
Financial position
At 31 October 2012 the Group's net debt position was $96.2m (30 April 2012: $113.2m). On 12 November 2012, Micro Focus will pay $129.3m to shareholders in settlement of the Return of Value utilising further funds from its $275m revolving credit facility.
Interim Results
The Group will announce its Interim Results on 6 December 2012.
Enquiries:
Micro Focus Tel: +44 (0)1635 32646
Kevin Loosemore, Executive Chairman
Mike Phillips, Chief Financial Officer
Tim Brill, IR Director
Powerscourt Tel: +44 (0) 20 7250 1446
Giles Sanderson
Nick Dibden
Sophie Moate
Notes to editors:
About Micro Focus
Micro Focus, a member of the FTSE 250, provides innovative software that helps companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization, Testing and Management 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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