Micro Focus on course to reduce debt

23rd Sep 2010 13:40

At today's AGM, Micro Focus International chairman Kevin Loosemore says the software company is making good progress in reducing its debt and is still on course to be cash positive at the end of April 2011. Net debt was $68.2m at the end of April 2010. Trading remains in line with previous guidance. There have been a number of board changes since the year end including the appointment of Mike Philips as finance director.Micro Focus will host an analyst and investor presentation on 29 September and plans a pre-close trading update on 10 November.

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