Micro Focus lifts full-year revenue guidance

3rd Dec 2013 07:11

- Lifts half-year revenue- Upwardly revises full-year revenue guidance- Increases dividend nearly 18 per centFTSE 250 Berkshire-based software and information technology business Micro Focus revealed solid progress in the first half of its financial year and said it has laid the foundations for continued growth in the second half.Total revenue rose 2.4% to $207.5m for the six months ended October 31st 2013, in line with company guidance. It is revising full-year revenue guidance from 0-5% growth to 3-6%.Micro, which acquired CORBA assets, Orbix and Artix earlier this year, said: "As a result and following completion of the recent acquisitions we are revising our full year revenue guidance."However, the group, which updates ageing computer systems and provides automated software testing, said pre-tax profit fell 7% to $70.5m during the period from $75.8m a year earlier. Net debt increased 71% to $164.5m during the period.Executive Chairman Kevin Loosemore added: "We are increasing our interim dividend by 17.6% to 14.0 cents per share reflecting our robust financial position and our confidence in the future prospects of the business."Our business profile was more balanced in the first half and whilst markets remain challenging we are seeing a strong pipeline of opportunities. We have laid the foundations on which Micro Focus will grow in the second half."CJ