Micro Focus International plc Trading update (9766T)

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RNS Number : 9766T

Micro Focus International plc

20 November 2019

20 November 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 global enterprise software group, today issues a brief trading update for the twelve months ended 31 October 2019.

Micro Focus expects to report full year Revenue and Adjusted EBITDA that are consistent with the revised revenue guidance given at the time of the trading update on 29 August 2019 and in line with Company Compiled Consensus*.

The Group expects to report Net Debt of $4.3bn at a leverage multiple of approximately 3.2x Adjusted EBITDA for the period ended 31 October 2019, following the completion of the share buyback programme and a one-off tax payment in respect of the SUSE disposal.

The Group will announce preliminary results for the twelve month period to 31 October 2019 on 4 February 2020. The Group's strategic review is progressing in line with the original timetable and the Board intends to provide an update as part of the preliminary results announcement.

* Company Compiled Consensus can be found at https://investors.microfocus.com/investors-media/analyst-consensus/

Enquiries:

   Micro Focus                                                         Tel: [phone] 
   Kevin Loosemore, Executive Chairman                [e-mail] 

Stephen Murdoch, CEO

Brian McArthur-Muscroft, CFO

Ben Donnelly, Investor relations

   Brunswick                                                            Tel: [phone] 
   Sarah West                                                            [e-mail] 

Jonathan Glass

Craig Breheny

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

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November 20, 2019 02:00 ET (07:00 GMT)