Micro Focus to return cash to investors as Q1 profit rises

14th Aug 2014 08:39

Software product group Micro Focus International posted flat first-half revenue, but said earnings had risen and pledged to return cash to investors.The FTSE 250 firm said revenue since 30 April matched the same period last year whilst earnings before interest, tax, depreciation and amortisation (EBITDA) were ahead of last year. Maintenance revenue growth was balanced by a drop in license revenues. After a good close to the 2014 financial year ending in April, international license revenues remained strong, the group said.However, a small decline in revenue in Asia Pacific & Japan against a relatively strong period last year and the sales force restructuring in North America caused a drag in the quarter, it said. The group also said it was proposing to return about £84m, or 60p a share,in cash by November.As of 09:13 the share price had risen 0.84% to 870.5p.WS