Micro Focus International plc Trading in line with management expectations

The Board of Micro Focus International plc ( LON: MCRO, NYSE: MFGP), the international software product group, today issued a brief trading update for the six months ended 30 April 2019.

Trading Update

Micro Focus expects to report interim results that are in line, on a constant currency basis, with management guidance given at the time of the preliminary results announced on 14 February 2019.

The collection of aged trade receivables has continued in line with management expectations.

Since 30 April 2019, we have effected a Return of Value of $1.8 billion utilising the proceeds of the SUSE Business disposal, which completed on 15 March 2019. The Group continues to target a mid-term net debt to Adjusted EBITDA ratio of 2.7 times.

Management continues to guide to a constant currency revenue range in respect of its continuing operations, for the full year to 31 October 2019, of minus 4% to minus 6%, compared to the 12 months ended 31 October 2018. Company-compiled consensus for the full year is available on the company website.

Preliminary Results date

Micro Focus will issue its interim results for the six months ended 30 April 2019 on Tuesday 9 July 2019.