Micro Focus slumps

Posted by Mike on Tuesday, February 15, 2011

Cobol software supplier Micro Focus has lost nearly one-third of its value as it warns that its full year figures will be disappointing.

Revenues in the three months to January 2011 were below expectations and the shortfall will not be made up this year. A number of deals were deferred or lost. The business is still cash generative. Net debt is $5.5m.