Micro Focus reiterates full-year guidance, set to implement restructuring plan

7th Apr 2015 08:04

Software product provider Micro Focus International reiterated its full-year guidance on a constant currency basis it provided in December.The FTSE 250 group confirmed it expected pro-forma annual revenues to be $1.33bn (£890m) and combined pro-forma annual underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to total $500m.The company, which said trading had continued in line with guidance since December, added that if spot exchange rate was used to restate its results on a constant currency basis, pro-forma annual revenues would fall to $1.24bn and underlying adjusted EBITDA would decline to $470m.Meanwhile, the London-listed group has confirmed that, following a review of its merger with TAG, it will implement a two-year restructuring plan and it will be reducing the number of office locations from 126 to 90 by April next year.Micro Focus shares were up 0.08% to 1,184.00p at 08:25 on Tuesday.