Micro Focus reports revenue dip as it continues its single platform shift REVENUE FALL Enterprise software group Micro Focus reported a revenue of $2.9bn (£2.1bn), which is a decline of five per cent, but represents a significant improvement in the rate of year-on-year revenue decline.
Micro Focus narrows loss as software group slashes costs Micro Focus narrows loss as software group slashes costs British software firm Micro Focus today reported a narrower loss for the first half of the year as it reaped the rewards of a cost-cutting plan. The London-listed company, which helps customers maintain and update legacy IT systems, posted an operating loss of $154.8m (£112m) for the six months to the end of April. This [...]
Micro Focus chairman steps down as profit plummets Micro Focus lost its chairman today as it posted a huge drop in profit in a “challenging” latest financial year, triggering traders to offload the struggling firm’s stock. The figures Operating profit sank 41.2 per cent year on year to $221.7m (£170.9m) for the 12 months to the end of October. Revenue also tumbled 29.6 [...]
Micro Focus shares sink as Open Text denies it might buy British IT firm October 21, 2019 Micro Focus’ share price fell to a 19-month low today after a potential buyer ruled out an acquisition of the troubled British IT firm. Open Text has flat out denied a Bloomberg report last week that the Canadian firm was weighing up a bid. Read more: Micro Focus overhauls exec pay after shareholder backlash “Open [...]
Micro Focus taps Goldman Sachs to lead review after share price crash September 15, 2019 Struggling software firm Micro Focus is said to be close to appointing advisers at Goldman Sachs as it ramps up its review into a potential sale of the business. Read more: Micro Focus issues revenue warning and embarks on strategic review Micro Focus, which helps to extend the life of old software businesses, could also [...]
Micro Focus share price nosedives as it issues stark revenue warning August 29, 2019 Micro Focus’ share price collapsed in early trading today as it issued a dramatic revenue warning to investors, saying sales could fall by double the previous forecast. The British IT company blamed macro factors such as Brexit uncertainty and economic concerns for its woes as customers held off from buying new technology kit. Read more: [...]
Micro Focus chairman dumps £11.6m in shares July 15, 2019 The chairman of Micro Focus has cashed in around £11.6m worth of shares in the British IT firm, saying he wants to “diversify” his portfolio. Read more: Micro Focus boosts profit margin but revenue stalls Kevin Loosemore has sold 650,000 shares – approximately half his stake – to invest the cash elsewhere. “Until now, all [...]
British IT firm Micro Focus ups profit margin but revenue stalls July 9, 2019 Micro Focus saw revenue slip in the first half of its financial year, it said today, although earnings rose 1.8 per cent to $662.3m (£530.6m), boosted by a wider profit margin. The figures Adjusted revenue shrank 5.3 per cent year on year to $1.7bn (£1.3bn) in the six months to the end of April, the [...]
Best 25 stocks in the last tax year April 15, 2019 By Graeme Evans from interactive investor. The FTSE 100 outperformed mid-caps last tax year, but the top FTSE 350 performers might surprise you. Take a look at the financial year ended on the 5th April, with the 25 top performing stocks in the FTSE 350 all producing gains of 40 per cent or more over the [...]
Lloyds Bank stars as FTSE 100 rockets in Q1 April 9, 2019 By Graeme Evans from interactive investor. After a great first quarter for stock markets, we assess the best and worst blue-chips of 2019 so far. It’s been a storming start to 2019 for the FTSE 100 index, with popular interactive investor stocks including Lloyds Banking Group (LSE:LLOY), Next (LSE:NXT) and Tesco (LSE:TSCO) among those on [...]