Micro Focus Int plc - Trading Update

16 May 2019

Micro Focus International plc

Trading Update

The Board of Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L, NYSE: MFGP), the international software product group, today issues 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 at https://investors.microfocus.com/investors-media/analyst-consensus/  

Preliminary Results date

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

Enquiries:

Micro Focus                                                        Tel: +44 (0)1635 32646

Kevin Loosemore, Executive Chairman

Stephen Murdoch, CEO

Brian McArthur-Muscroft, CFO

Tim Brill, IR Director

Powerscourt                                                      Tel: +44 (0)20 7250 1446

Elly Williamson

Celine MacDougall

Notes to Editors:

About Micro Focus

Micro Focus (LSE: MCRO.L, NYSE: MFGP) is a global enterprise software company supporting the technology needs and challenges of the Global 2000.  Our solutions help organizations leverage existing IT investments, enterprise applications and emerging technologies to address complex, rapidly evolving business requirements while protecting corporate information at all times. Our product portfolios are Security, IT Operations Management, Application Delivery Management, Information Management & Governance and Application Modernization & Connectivity. For more information, visit: www.microfocus.com