Investegate |Micro Focus Int plc Announcements | Micro Focus Int plc: 2020 Annual Financial Report and Notice of AGM investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
Share price rises after no-surprises 2020 prelims announced, CEO says 3-year turnaround doing OK
Paul Kunert Tue 9 Feb 2021 // 17:21 UTC Share
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Investors hate surprises. There were, however, no hidden nasties in Micro Focus s preliminary financial results for fiscal 2020 outlined today as the collection of fragmented legacy software assets crossed off year one of its 36-month turnaround strategy.
Group revenue fell 10 per cent year-on-year for the 12 months ended 31 October to $3bn with licence, maintenance, software-as-a-service, and consulting revenues dropping across much of the business.
By product group, turnover from Application Modernisation & Connectivity fell 7.5 per cent to $470.3m. Micro Focus said it saw more customers specifying modernisation projects but with the outbreak of COVID-19 many had deferred them.
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Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;