May 19, 2020 / 6:44 AM / 9 days ago

Micro Focus Intl sees first half revenue down 11%, withdraws guidance

FILE PHOTO: A sign stands outside the offices of Micro Focus after they and Hewlett Packard Enterprise Co announced that Hewlett Packard Enterprise Co will spin off and merge its non-core software assets with Britain's Micro Focus International in a deal worth $8.8 billion, in Newbury, Britain, September 8, 2016. REUTERS/Eddie Keogh

LONDON (Reuters) - Britain’s Micro Focus Intl (MCRO.L) said the coronavirus caused some customers to defer projects and delay renewals in April, resulting in a 11% decline in first half revenue.

The company, which helps customers maintain and integrate legacy IT technology, said on Tuesday it expected to report revenue of about $1.45 billion for the six months to end-April. It said its core earnings margin would be towards the upper end of its guidance at about 38% due to cost savings.

Micro Focus said the ultimate impact on the global economy from the pandemic remained unknown and as a result it was not possible to provide reliable forward guidance.

Reporting by Paul Sandle; editing by James Davey

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