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Micro Focus Int'l improves FY pretax profit

12 July 2017 07:23

Micro Focus International has posted a FY pretax profit of $196.3m, up from $195.4m.

Its dividend for the 12 months was 88.06 cents a share, up from 66.68 cents.

"This has been a significant year for Micro Focus with the announcement of the combination with HPE Software to create one of the world's largest pure play software companies," said executive chair Kevin Loosemore.

"The transaction is on track to complete on 1 September when Micro Focus will list the consideration shares on the London market and the American Depositary Shares on the New York Stock Exchange."

Loosemore said that operational Micro Focus had delivered revenue of $1,380.7m, slightly above the mid-point of the zero to minus 2% growth rate range given at the beginning of the year when compared with pro-forma CCY revenues for FY16, with revenues 0.9% down from $1,392.7m. Mergers and acquisitions continued to be a key component of the company's strategy.

Whilst the key strategic announcement in the period was the HPE Software transaction we also completed the acquisitions of Serena, GWAVA Inc., OpenATTIC, and the OpenStack IaaS and Cloud Foundry PaaS talent and technology assets.

"Over the last six years we have completed and successfully integrated 10 acquisitions and on completion of the HPE Software transaction will have increased the revenue of the business approximately 10 fold since 2011," said Loosemore.

Story provided by StockMarketWire.com

Related Company: MCRO

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