Confidence boost for Micro Focus

There was reassurance from Micro Focus in its pre-close trading update with the news that it expects to close the year (to April 30 2011) in line with expectations and with adjusted EDITDA at the upper end of expectations. And it is generating cash from operations. This is another sign that it is continuing to make good after a troubled period (see Micro Focus: working its way back). Full results will be released next month when it will be interesting to see what has happened to the licence line. Half time results showed that licence revenue was creeping up, further improvements will increase confidence levels.