Micro Focus integrations ahead of plan

(By Philip Carnelley, 11 Nov 09, 08:00) Micro Focus has issued a trading update on its first half results. It expects to report revenues of c$195m - a rise of 44%. Like-for-like growth would be around 5%. On a call this morning CFO Nick Bray said they weren’t overly excited about that 5% figure, but they are pleased with the performance of the new acquisitions. The revenue run rate from the Borland and Compuware businesses is 8-10% ahead of expectations and Micro Focus is making rather faster progress on cost reductions, improving EBITDA significantly: 30% anticipated rather than 15% as previously. On the call, Bray commented that the much-needed new product road map is now being unveiled to analysts so we are hoping for an update very soon. No word on the hunt for a new CEO.

The market really liked all this! MicroFocus shares currently up 19% at 406p. That's a 38% rise this YTD.