Micro Focus reiterates full-year guidance after strong fourth quarter

Software group Micro Focus has reiterated its guidance to treble annual revenues on the back of a strong finish to its financial year, helped by the first contribution from its merger with The Attachment Group (TAG).

The company, which had already guided to combined pro-forma revenues of $1.3bn and underlying adjusted operating profits of $500m for the year ended 30 April, confirmed that results should be "comfortable in line with this guidance on a constant currency basis".

This compared to revenues of $433m and underlying adjusted operating profits of $192m the previous year.

The tie-up with infrastructure software solutions outfit TAG was completed in November 2014 and contributed $835m and $345m to the enlarged group's top and bottom lines for the year, respectively.

Micro Focus did not comment much on fourth-quarter trading, but said it delivered a "strong finish" to the year just ended.

Net debt at the end of the year was down to $1.40bn, from $1.51bn at the end of January, reflecting good cash collection in the final quarter.