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Micro Focus Intl sees first half revenue down 11%, withdraws guidance

Reuters
·1-min read
FILE PHOTO: A sign stands outside the offices of Micro Focus in Newbury

LONDON (Reuters) - Britain's Micro Focus Intl <MCRO.L> said the coronavirus caused some customers to defer projects and delay renewals in April, resulting in a 11% decline in first half revenue.

The company, which helps customers maintain and integrate legacy IT technology, said on Tuesday it expected to report revenue of about $1.45 billion for the six months to end-April. It said its core earnings margin would be towards the upper end of its guidance at about 38% due to cost savings.

Micro Focus said the ultimate impact on the global economy from the pandemic remained unknown and as a result it was not possible to provide reliable forward guidance.

(Reporting by Paul Sandle; editing by James Davey)