TechMARK movers: Micro Focus pleases investors

11th Nov 2009 15:11

Software company Micro Focus International reported better than expected first half trading and this led to sharp upgrades in forecasts. Micro Focus expects to publish an increase in revenues from $136m to $195m in the six months to October 2009. This growth was helped by acquisitions but organic growth was still 5%. EBITDA, excluding exceptional charges, is expected to improve from $57.9m to $75m. Net debt was $104m at the end of October 2009. The company is still looking for a new chief executive. KBC Peel Hunt has upgraded its 2009-10 earnings per share forecast by 16% to 44.1 cents. Next year's earnings forecast has been upgraded by 20%. The share price is still short of KBC Peel Hunt's target of 475p and Panmure Gordon's target price of 500p. The interim figures will be published on 9 December. In contrast, the trading statement from defence and aerospace group Ultra Electronics was less well received. Trading remains in line with expectations but there have been delays in the awarding of contracts in the UK. Even so, management was upbeat about the prospects for the business. Firm orders cover 60% of revenue expectations over the next 12 months. The 2009 figures will be published on 1 March 2010.FTSE TechMARK - RisersMicro Focus International Plc (MCRO) 410.00p +19.88%Puricore (PURI) 16.50p +8.20%XP Power (XPP) 316.50p +4.63%Emblaze (BLZ) 50.00p +4.17%Antisoma (ASM) 33.75p +3.05%Innovation Group (TIG) 12.25p +2.08%NCC Group (NCC) 385.00p +1.85%Dialight (DIA) 215.00p +1.65%Trafficmaster (TFC) 32.00p +1.59%Psion (PON) 114.00p +1.11%FTSE TechMARK - FallersPhytopharm (PYM) 17.50p -4.11%Ark Therapeutics (AKT) 39.00p -3.70%Ultra Electronics Holdings (ULE) 1,311.00p -3.60%AEA Technology (AAT) 28.00p -3.45%Optos (OPTS) 90.50p -2.69%Torotrak (TRK) 27.75p -2.63%Consort Medical (CSRT) 399.75p -2.26%BTG (BGC) 172.50p -2.21%Filtronic (FTC) 34.00p -2.16%Ricardo Group (RCDO) 230.00p -2.13%