Newbury-based Micro Focus, one of the world’s largest enterprise software providers, has reported a revenue decline inits six months results to April 2022.
The company announced revenue of $1.3 billion, down from $1.4 billion in the same half last year, representing a year-on-year decline of 6.8 per cent.
However, the company said that several sub-portfolios are now delivering consistent growth not yet visible at a Product Group level, but it anticipates this will deliver overall growth in its CyberRes product ahead of schedule and AMC as its mainframe modernisation offering continues to ramp.
Stephen Murdoch, Chief Executive Officer, said: “In H1 we improved free cash flow, reduced leverage, and made progress against the strategic objectives we outlined in November. I am encouraged by the strides taken to become increasingly customer centric, building growth in key portfolios, and increasing our quality of earnings.
“We have delivered these results against an increasingly volatile market backdrop with customer demand to date remaining robust, demonstrating the mission critical nature of our solutions.”