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Prices & Quotes - UK Markets - Micro Focus International (MCRO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 373.00p
Change Today:
-7.10p
Market Cap:
1,251.75m
Sector:
Software & Computer Services

Micro Focus expects H1 performance ahead of views, shares rally

By Michele Maatouk

Date: Tuesday 18 May 2021

LONDON (ShareCast) - (Sharecast News) - Micro Focus shares surged on Tuesday after the software company said its first-half performance was set to be ahead of market views.
In an update for the six months to 30 April, the group said it expects to report revenue of around $1.4bn, down 5% from the first half of 2020 at constant currency but ahead of market expectations.

Licence revenue is expected to rise by about 10% from the first half of 2020, "demonstrating the continuation of sales execution improvements delivered in the second half of FY20". Meanwhile, revenue in the maintenance segment is expected to decline 8%, impacted by a reduction in licence volume in the previous financial period combined with elevated attrition rates for a small subset of products.

SaaS and other recurring revenue is forecast to drop around 5%, in line with expectations, while consulting revenue is expected to fall 9% but is now broadly in line with the revenue generated in the second half of last year.

The company expects an adjusted EBITDA margin of around 36% for the first half, which is also ahead of consensus views. This reflects strong licence revenue performance and cost savings from back office simplification, partially offset by the planned product investment, it said.

Chief executive officer Stephen Murdoch said: "We are pleased with a period of further solid progress in most areas of our business. The product investments and operational changes we are making are beginning to deliver performance improvements, and our value propositions are resonating with customers and partners, as demonstrated by the signing of the significant, long term commercial agreement with AWS."

At 0835 BST, the shares were up 10% at 518.59p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MCRO Market Data

Currency UK Pounds
Price 373.00p
Change Today -7.10p
52 Week High 587.60p
52 Week Low 211.80p
Volume 642,921
Shares Issued 335.59m
Market Cap 1,251.75m

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MCRO Dividends

  Latest Previous
  Interim Final
Ex-Div 22-Jul-21 11-Mar-21
Paid 06-Aug-21 15-Apr-21
Amount 8.80¢ 15.50¢

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 243,993 @ 373.00p
16:29 21 @ 372.30p
16:29 535 @ 372.17p
16:29 1,335 @ 372.14p
16:29 994 @ 372.20p

MCRO Key Personnel

CEO Stephen Murdoch